Clear Street Group Inc. Takes Position in FG Merger II Corp. $FGMC

Clear Street Group Inc. bought a new position in FG Merger II Corp. (NASDAQ:FGMC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 554,377 shares of the company’s stock, valued at approximately $5,539,000. Clear Street Group Inc. owned about 0.21% of FG Merger II at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FGMC. Highbridge Capital Management LLC purchased a new position in FG Merger II during the 2nd quarter valued at about $954,000. DLD Asset Management LP bought a new stake in shares of FG Merger II in the 2nd quarter worth approximately $1,482,000. Crossingbridge Advisors LLC bought a new stake in shares of FG Merger II in the 2nd quarter worth approximately $242,000. Flow Traders U.S. LLC purchased a new position in shares of FG Merger II during the second quarter valued at approximately $115,000. Finally, Bluefin Capital Management LLC purchased a new position in shares of FG Merger II during the second quarter valued at approximately $1,167,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FG Merger II in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, FG Merger II has an average rating of “Sell”.

FG Merger II Price Performance

Shares of NASDAQ FGMC opened at $10.09 on Friday. FG Merger II Corp. has a 1 year low of $9.56 and a 1 year high of $10.25. The stock has a market capitalization of $26.23 million and a P/E ratio of 1,009.00. The company’s 50-day moving average is $10.08 and its 200 day moving average is $10.04.

FG Merger II Company Profile

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.