Short Interest in FG Merger II Corp. (NASDAQ:FGMC) Grows By 20.1%

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 33,593 shares, a growth of 20.1% from the February 26th total of 27,976 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 25,605 shares, the short-interest ratio is presently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, FG Merger II presently has a consensus rating of “Sell”.

FG Merger II Trading Down 0.0%

NASDAQ FGMC traded down $0.00 during trading on Wednesday, hitting $10.10. 21,434 shares of the company’s stock were exchanged, compared to its average volume of 39,989. The company has a market cap of $26.26 million and a PE ratio of 1,009.90. FG Merger II has a fifty-two week low of $9.57 and a fifty-two week high of $10.25. The stock’s 50 day moving average price is $10.09 and its two-hundred day moving average price is $10.05.

FG Merger II (NASDAQ:FGMC) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.04 earnings per share for the quarter.

Institutional Trading of FG Merger II

A number of hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC increased its holdings in shares of FG Merger II by 28.6% during 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 in the last quarter. Highbridge Capital Management LLC grew its holdings in shares of FG Merger II by 119.9% during the fourth quarter. Highbridge Capital Management LLC now owns 559,889 shares of the company’s stock worth $5,621,000 after purchasing an additional 305,282 shares during the last quarter. Clear Street Group Inc. acquired a new position in shares of FG Merger II in the 3rd quarter worth approximately $5,539,000. Berkley W R Corp bought a new stake in shares of FG Merger II in the 3rd quarter valued at $3,158,000. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of FG Merger II by 19.6% during 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.

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.