AGM Group Holdings Inc. (NASDAQ:AGMH – Get Free Report) saw a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 33,932 shares, a drop of 36.4% from the June 30th total of 53,348 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 28,271 shares, the days-to-cover ratio is presently 1.2 days.
Institutional Inflows and Outflows
An institutional investor recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AGM Group in a research note on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $5.77.
AGM Group Trading Down 1.6%
Shares of NASDAQ AGMH opened at $0.75 on Friday. The business’s 50 day moving average is $1.12 and its 200-day moving average is $1.21. AGM Group has a 1-year low of $0.70 and a 1-year high of $18.10.
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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