AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Update

AGM Group Holdings Inc. (NASDAQ:AGMH) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 31,670 shares, a decline of 42.2% from the May 14th total of 54,810 shares. Based on an average daily trading volume, of 101,333 shares, the short-interest ratio is currently 0.3 days. Approximately 1.5% of the company’s shares are sold short.

Analyst Ratings Changes

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

AGM Group Stock Performance

Shares of AGM Group stock opened at $1.19 on Friday. AGM Group has a one year low of $0.77 and a one year high of $18.10. The stock’s 50-day moving average is $1.03 and its 200 day moving average is $1.57.

Institutional Investors Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 at the end of the most recent reporting period.

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.