FG Merger II (NASDAQ:FGMC) Posts Quarterly Earnings Results

FG Merger II (NASDAQ:FGMC) issued its earnings results on Wednesday. The company reported $0.01 earnings per share (EPS) for the quarter, FiscalAI reports.

FG Merger II Price Performance

Shares of FGMC stock remained flat at $10.02 during mid-day trading on Wednesday. The company’s stock had a trading volume of 11,209 shares, compared to its average volume of 49,311. FG Merger II has a twelve month low of $9.53 and a twelve month high of $10.10. The stock has a 50-day moving average of $10.00 and a 200-day moving average of $9.89. The firm has a market capitalization of $26.01 million and a price-to-earnings ratio of 1,002.00.

Institutional Trading of FG Merger II

A number of hedge funds have recently added to or reduced their stakes in the business. AQR Arbitrage LLC bought a new position in FG Merger II during the 1st quarter worth about $7,587,000. Westchester Capital Management LLC bought a new position in shares of FG Merger II during the first quarter valued at approximately $2,874,000. Wealthspring Capital LLC bought a new position in shares of FG Merger II during the second quarter valued at approximately $2,044,000. DLD Asset Management LP purchased a new position in FG Merger II during the second quarter valued at approximately $1,482,000. Finally, Virtu Financial LLC bought a new position in FG Merger II in the first quarter worth approximately $1,366,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of FG Merger II in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

FG Merger II Company Profile

FG Merger II Corp. is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded on September 20, 2023 and is headquartered in Itasca, IL.