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

AGM Group Holdings Inc. (NASDAQ:AGMH) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 55,709 shares, a growth of 64.2% from the July 15th total of 33,932 shares. Based on an average trading volume of 71,963 shares, the short-interest ratio is presently 0.8 days. Currently, 2.7% of the shares of the stock are short sold.

Institutional Investors Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE purchased a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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 as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered AGM Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $5.77.

AGM Group Price Performance

NASDAQ AGMH traded down $0.03 during mid-day trading on Wednesday, reaching $0.92. 8,346 shares of the stock were exchanged, compared to its average volume of 147,009. AGM Group has a one year low of $0.70 and a one year high of $18.10. The stock has a 50 day simple moving average of $1.07 and a 200-day simple moving average of $1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.27 and a quick ratio of 11.46.

AGM Group (NASDAQ:AGMH) last issued its quarterly earnings results on Friday, August 7th. The company reported $1.18 EPS for the quarter. The firm had revenue of $5.13 million for the quarter.

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.