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

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a significant growth in short interest in January. As of January 30th, there was short interest totaling 36,460 shares, a growth of 97.6% from the January 15th total of 18,451 shares. Based on an average daily volume of 38,676 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.4% of the shares of the stock are sold short. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 38,676 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On FG Merger II

Several large investors have recently modified their holdings of FGMC. Flow Traders U.S. LLC purchased a new position in shares of FG Merger II during the 2nd quarter worth $115,000. Crossingbridge Advisors LLC purchased a new stake in FG Merger II in the 2nd quarter valued at about $242,000. Wolverine Asset Management LLC purchased a new position in FG Merger II during the second quarter worth about $277,000. SkyView Investment Advisors LLC purchased a new position in FG Merger II during the second quarter worth about $789,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of FG Merger II during the second quarter valued at about $954,000.

FG Merger II Price Performance

Shares of NASDAQ FGMC opened at $10.08 on Friday. The company has a market capitalization of $26.21 million and a P/E ratio of 1,008.00. The company has a 50 day simple moving average of $10.06 and a 200-day simple moving average of $10.02. FG Merger II has a 1 year low of $9.53 and a 1 year high of $10.25.

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.