AGM Group (NASDAQ:AGMH) Trading 2.7% Higher – Still a Buy?

AGM Group Holdings Inc. (NASDAQ:AGMH) shares traded up 2.7% during mid-day trading on Friday . The stock traded as high as $1.1650 and last traded at $1.0991. Approximately 158,921 shares were traded during mid-day trading, an increase of 191% from the average daily volume of 54,565 shares. The stock had previously closed at $1.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AGM Group in a research report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell” and an average target price of $5.77.

AGM Group Price Performance

The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.26.

Institutional Trading of AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE purchased a new stake in AGM Group Holdings Inc. (NASDAQ:AGMH) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned approximately 3.02% of AGM Group as of its most recent SEC filing.

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.