AGM Group Holdings Inc. (NASDAQ:AGMH – Get 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 daily volume of 95,796 shares, the short-interest ratio is currently 0.6 days. Currently, 2.6% of the company’s shares are short sold.
AGM Group Price Performance
Shares of AGMH stock traded up $0.05 on Friday, hitting $1.41. The stock had a trading volume of 148,837 shares, compared to its average volume of 91,269. AGM Group has a 1 year low of $0.77 and a 1 year high of $18.10. The company’s 50 day moving average price is $0.99 and its 200-day moving average price is $1.70.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AGM Group in a report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, AGM Group presently has an average rating of “Sell” and an average price target of $5.77.
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 – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 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.
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