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

AGM Group Holdings Inc. (NASDAQ:AGMH) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 67,058 shares, a growth of 111.7% from the May 31st total of 31,670 shares. Based on an average trading volume of 562,493 shares, the short-interest ratio is presently 0.1 days. Currently, 3.2% of the company’s shares are short sold.

AGM Group Stock Up 3.8%

AGMH stock opened at $1.10 on Tuesday. AGM Group has a 12 month low of $0.77 and a 12 month high of $18.10. The firm’s 50-day moving average is $1.09 and its 200 day moving average is $1.42.

Hedge Funds Weigh In On AGM Group

A hedge fund recently bought a new position 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 filing with the Securities and Exchange Commission (SEC). The fund purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated 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, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $5.77.

AGM Group Company Profile

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.