AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Down 36.4% in July

AGM Group Holdings Inc. (NASDAQ:AGMH) saw a large decline in short interest in July. As of July 15th, there was short interest totaling 33,932 shares, a decline of 36.4% from the June 30th total of 53,348 shares. Based on an average daily trading volume, of 28,271 shares, the days-to-cover ratio is currently 1.2 days. Currently, 1.6% of the shares of the stock are sold short.

AGM Group Price Performance

AGMH traded up $0.01 during trading hours on Friday, reaching $0.77. 15,321 shares of the company’s stock traded hands, compared to its average volume of 155,274. AGM Group has a 52-week low of $0.70 and a 52-week high of $18.10. The firm has a 50-day moving average price of $1.13 and a 200 day moving average price of $1.22.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AGM Group in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, AGM Group currently has an average rating of “Sell” and an average price target of $5.77.

Hedge Funds Weigh In On AGM Group

An institutional investor recently bought a new position in AGM Group stock. Bank of America Corp DE acquired a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned approximately 3.02% of AGM Group at the end of the most recent reporting period.

AGM Group Company Profile

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.