FG Merger II Corp. (NASDAQ:FGMC) Short Interest Update

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 8,155 shares, a decrease of 56.8% from the December 15th total of 18,865 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily trading volume, of 56,889 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 56,889 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.3% of the company’s stock are short sold.

FG Merger II Price Performance

Shares of NASDAQ:FGMC traded down $0.02 on Friday, hitting $10.08. 40,160 shares of the company traded hands, compared to its average volume of 42,668. The stock has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $9.99. FG Merger II has a 52 week low of $9.53 and a 52 week high of $10.25.

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

Hedge Funds Weigh In On FG Merger II

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP boosted its stake in FG Merger II by 128.8% during the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock valued at $1,775,000 after purchasing an additional 100,000 shares during the last quarter. Clear Street Group Inc. bought a new position in shares of FG Merger II during the third quarter valued at $5,539,000. Berkley W R Corp purchased a new stake in shares of FG Merger II during the third quarter valued at $3,158,000. Highbridge Capital Management LLC increased its holdings in FG Merger II by 163.3% in the 3rd quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock worth $2,544,000 after buying an additional 157,902 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its position in FG Merger II by 112.4% in the 3rd quarter. Wolverine Asset Management LLC now owns 59,474 shares of the company’s stock worth $594,000 after buying an additional 31,478 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of FG Merger II in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

FG Merger II Company Profile

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.