FG Merger II (NASDAQ:FGMC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of FG Merger II (NASDAQ:FGMC) from a hold rating to a sell rating in a research report report published on Saturday morning.

FG Merger II Stock Performance

NASDAQ FGMC opened at $10.33 on Friday. The company has a market cap of $26.86 million, a P/E ratio of 1,033.00 and a beta of 0.04. The business’s 50 day moving average price is $10.14 and its 200-day moving average price is $10.08. FG Merger II has a fifty-two week low of $9.73 and a fifty-two week high of $10.34.

FG Merger II (NASDAQ:FGMC) last released its earnings results on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

Hedge Funds Weigh In On FG Merger II

Large investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its holdings in shares of FG Merger II by 15.8% in the fourth quarter. Toronto Dominion Bank now owns 190,113 shares of the company’s stock worth $1,909,000 after buying an additional 25,875 shares during the period. Rivernorth Capital Management LLC raised its holdings in shares of FG Merger II by 28.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 642,969 shares of the company’s stock worth $6,455,000 after buying an additional 142,969 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in shares of FG Merger II by 19.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 254,099 shares of the company’s stock worth $2,551,000 after buying an additional 41,683 shares during the period. DLD Asset Management LP raised its holdings in shares of FG Merger II by 10.7% in the fourth quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock worth $1,112,000 after buying an additional 10,725 shares during the period. Finally, Crossingbridge Advisors LLC raised its holdings in shares of FG Merger II by 148.8% in the fourth quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock worth $610,000 after buying an additional 36,424 shares during the period.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.