AGM Group Holdings Inc. (NASDAQ:AGMH) Sees Large Growth in Short Interest

AGM Group Holdings Inc. (NASDAQ:AGMHGet Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 54,810 shares, an increase of 191.7% from the April 30th total of 18,787 shares. Based on an average trading volume of 95,796 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.6% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Get Our Latest Stock Analysis on AGMH

Institutional Inflows and Outflows

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

AGM Group Trading Up 3.7%

Shares of AGMH traded up $0.05 during mid-day trading on Friday, reaching $1.41. The company’s stock had a trading volume of 148,837 shares, compared to its average volume of 91,269. AGM Group has a 12-month low of $0.77 and a 12-month high of $18.10. The company’s 50 day moving average is $0.99 and its 200 day moving average is $1.70.

About AGM Group

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for AGM Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AGM Group and related companies with MarketBeat.com's FREE daily email newsletter.