Short Interest in AGM Group Holdings Inc. (NASDAQ:AGMH) Increases By 256.3%

AGM Group Holdings Inc. (NASDAQ:AGMH) saw a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 142,035 shares, a growth of 256.3% from the January 15th total of 39,866 shares. Based on an average daily volume of 631,137 shares, the short-interest ratio is presently 0.2 days. Currently, 6.8% of the company’s shares are sold short. Currently, 6.8% of the company’s shares are sold short. Based on an average daily volume of 631,137 shares, the short-interest ratio is presently 0.2 days.

AGM Group Stock Up 2.1%

NASDAQ AGMH opened at $1.49 on Wednesday. AGM Group has a 12 month low of $1.09 and a 12 month high of $43.50. The company has a 50-day moving average of $2.15 and a 200-day moving average of $3.20.

AGM Group (NASDAQ:AGMH) last released its earnings results on Friday, October 10th. The company reported $1.85 earnings per share (EPS) for the quarter. The company had revenue of $10.15 million during the quarter.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

About AGM Group

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.