AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Up 84.6% in December

AGM Group Holdings Inc. (NASDAQ:AGMH) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totaling 11,264 shares, an increase of 84.6% from the December 15th total of 6,101 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 35,746 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 35,746 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AGMH. UBS Group set a $5.77 target price on AGM Group in a research note on Friday, September 19th. Weiss Ratings lowered AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $5.77.

AGM Group Stock Performance

NASDAQ AGMH opened at $1.99 on Thursday. The company has a 50-day simple moving average of $2.64 and a two-hundred day simple moving average of $3.31. AGM Group has a 12-month low of $1.09 and a 12-month high of $75.00.

AGM Group (NASDAQ:AGMH) last released its earnings results on Friday, October 10th. The company reported $1.85 earnings per share for the quarter. The company had revenue of $10.15 million during the quarter.

Institutional Trading of AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE bought a new position in AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent SEC filing.

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.