AGM Group Holdings Inc. (NASDAQ:AGMH – Get Free Report) was the recipient of a significant growth in short interest in 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. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 71,963 shares, the short-interest ratio is currently 0.8 days.
Institutional Inflows and Outflows
A hedge fund 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 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter.
AGM Group Price Performance
NASDAQ AGMH opened at $0.97 on Tuesday. The business has a fifty day moving average price of $1.07 and a two-hundred day moving average price of $1.13. AGM Group has a fifty-two week low of $0.70 and a fifty-two week high of $18.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.46 and a current ratio of 13.27.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut shares of 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, Based on data from MarketBeat.com, AGM Group has an average rating of “Sell” and an average target price of $5.77.
View Our Latest Report on AGM Group
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.
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