AGM Group Holdings Inc. (NASDAQ:AGMH – Get Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 54,810 shares, a growth of 191.7% from the April 30th total of 18,787 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 95,796 shares, the days-to-cover ratio is currently 0.6 days.
AGM Group Stock Performance
AGMH stock opened at $1.41 on Friday. The company’s 50 day moving average price is $0.99 and its 200 day moving average price is $1.70. AGM Group has a fifty-two week low of $0.77 and a fifty-two week high of $18.10.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of AGM Group in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $5.77.
Institutional Trading of AGM Group
A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent filing with the Securities and Exchange Commission (SEC).
About AGM Group
AGM Group Holdings, Inc (NASDAQ:AGMH) is a blank check company incorporated in Delaware in April 2021. It was formed as a special purpose acquisition company (SPAC) with no commercial operations at inception and no revenues other than interest earned on its trust account balances. The company’s primary objective is to identify and complete a business combination with one or more operating businesses.
In connection with its initial public offering, AGM Group issued units comprising one share of common stock and a fraction of one redeemable warrant, with gross proceeds deposited into a trust account.
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