FG Merger II Corp. (NASDAQ:FGMC) Sees Large Decline in Short Interest

FG Merger II Corp. (NASDAQ:FGMC) saw a significant decline in short interest in the month of December. As of December 15th, there was short interest totaling 18,865 shares, a decline of 21.7% from the November 30th total of 24,103 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 79,469 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 79,469 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.7% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Merger II in a research report on Monday, December 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, FG Merger II currently has an average rating of “Sell”.

FG Merger II Price Performance

NASDAQ FGMC remained flat at $10.03 during midday trading on Tuesday. The company’s stock had a trading volume of 32,919 shares, compared to its average volume of 50,346. The business has a fifty day moving average of $10.02 and a 200-day moving average of $9.97. The stock has a market cap of $26.08 million and a P/E ratio of 1,003.00. FG Merger II has a 52-week low of $9.53 and a 52-week high of $10.10.

FG Merger II (NASDAQ:FGMC) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter.

Institutional Trading of FG Merger II

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Flow Traders U.S. LLC acquired a new stake in shares of FG Merger II during the 2nd quarter worth approximately $115,000. Crossingbridge Advisors LLC bought a new stake in FG Merger II during the second quarter worth $242,000. Wolverine Asset Management LLC bought a new stake in FG Merger II during the second quarter worth $277,000. SkyView Investment Advisors LLC acquired a new stake in shares of FG Merger II in the 2nd quarter valued at $789,000. Finally, Highbridge Capital Management LLC bought a new position in shares of FG Merger II in the 2nd quarter valued at $954,000.

About FG Merger II

FG Merger II is a special purpose acquisition company (SPAC) incorporated in Delaware in 2022. The company was formed for the purpose of effecting a merger, stock exchange, asset acquisition or similar business combination. It completed its initial public offering on the Nasdaq under the symbol FGMC and, to date, has not identified a definitive target or commenced substantive operations beyond the SPAC formation.

The company intends to pursue opportunities in financial technology, financial services and adjacent technology-driven sectors.