FG Merger II (NASDAQ:FGMC) Issues Quarterly Earnings Results

FG Merger II (NASDAQ:FGMC) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports.

FG Merger II Price Performance

Shares of NASDAQ FGMC traded down $0.01 during mid-day trading on Wednesday, hitting $10.11. 3,489 shares of the company’s stock traded hands, compared to its average volume of 40,303. FG Merger II has a 1 year low of $9.57 and a 1 year high of $10.25. The company’s 50-day moving average is $10.09 and its two-hundred day moving average is $10.05. The company has a market capitalization of $26.27 million and a P/E ratio of 1,010.50.

Institutional Investors Weigh In On FG Merger II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Flow Traders U.S. LLC bought a new stake in shares of FG Merger II in the 2nd quarter valued at approximately $115,000. Wolverine Asset Management LLC raised its holdings in FG Merger II by 112.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 59,474 shares of the company’s stock valued at $594,000 after buying an additional 31,478 shares during the period. Crossingbridge Advisors LLC raised its holdings in FG Merger II by 148.8% during the 4th quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock valued at $610,000 after buying an additional 36,424 shares during the period. SkyView Investment Advisors LLC bought a new stake in FG Merger II in the second quarter worth $789,000. Finally, DLD Asset Management LP boosted its stake in FG Merger II by 10.7% during the fourth quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock worth $1,112,000 after buying an additional 10,725 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Merger II in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About FG Merger II

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.