AGM Group Holdings Inc. (NASDAQ:AGMH) Sees Significant Growth in Short Interest

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 142,035 shares, a growth of 256.3% from the January 15th total of 39,866 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average trading volume of 631,137 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 631,137 shares, the short-interest ratio is presently 0.2 days. Approximately 6.8% of the company’s shares are short sold.

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) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $5.77.

AGM Group Price Performance

AGM Group stock opened at $1.45 on Thursday. AGM Group has a fifty-two week low of $1.09 and a fifty-two week high of $43.50. The stock has a 50-day simple moving average of $2.13 and a 200-day simple moving average of $3.19.

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

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.