AGM Group (NASDAQ:AGMH) Trading Down 12.8% – What’s Next?

AGM Group Holdings Inc. (NASDAQ:AGMHGet Free Report) shares dropped 12.8% during mid-day trading on Thursday . The stock traded as low as $1.37 and last traded at $1.43. Approximately 566,002 shares changed hands during trading, an increase of 68% from the average daily volume of 337,172 shares. The stock had previously closed at $1.64.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, AGM Group currently has a consensus rating of “Sell” and a consensus target price of $5.77.

View Our Latest Analysis on AGMH

AGM Group Stock Up 3.5%

The company has a 50 day moving average price of $2.21 and a 200-day moving average price of $3.20.

AGM Group (NASDAQ:AGMHGet Free Report) last announced its quarterly earnings data on Friday, October 10th. The company reported $1.85 earnings per share for the quarter. The business had revenue of $10.15 million for the quarter.

Institutional Investors Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE acquired a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMHFree Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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

(Get Free Report)

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.

Further Reading

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