AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Update

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 55,709 shares, an increase of 64.2% from the July 15th total of 33,932 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average trading volume of 71,963 shares, the short-interest ratio is presently 0.8 days.

AGM Group Price Performance

AGMH stock opened at $0.99 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.46 and a current ratio of 13.27. The business has a 50 day moving average price of $1.08 and a two-hundred day moving average price of $1.14. AGM Group has a twelve month low of $0.70 and a twelve month high of $18.10.

AGM Group (NASDAQ:AGMH) last announced its quarterly earnings data on Friday, August 7th. The company reported $1.18 EPS for the quarter. The firm had revenue of $5.13 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of AGM Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday. One 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 stake in AGM Group stock. Bank of America Corp DE purchased a new stake in AGM Group Holdings Inc. (NASDAQ:AGMH) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group at the end of the most recent quarter.

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.