Short Interest in FG Merger II Corp. (NASDAQ:FGMC) Grows By 59.6%

FG Merger II Corp. (NASDAQ:FGMC) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 61,535 shares, an increase of 59.6% from the May 14th total of 38,552 shares. Based on an average daily volume of 58,524 shares, the short-interest ratio is presently 1.1 days. Currently, 2.4% of the shares of the stock are sold short.

Analyst Ratings Changes

FGMC has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of FG Merger II in a research note on Friday, May 29th. Wall Street Zen lowered FG Merger II from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, FG Merger II currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FGMC. Flow Traders U.S. LLC purchased a new stake in shares of FG Merger II in the 2nd quarter worth about $115,000. Crossingbridge Advisors LLC boosted its position in shares of FG Merger II by 148.8% in the 4th quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock worth $610,000 after buying an additional 36,424 shares in the last quarter. SkyView Investment Advisors LLC purchased a new stake in shares of FG Merger II in the 2nd quarter worth about $789,000. DLD Asset Management LP boosted its position in shares of FG Merger II by 10.7% in the 4th 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 in the last quarter. Finally, Quarry LP boosted its position in shares of FG Merger II by 128.8% in the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock worth $1,775,000 after buying an additional 100,000 shares in the last quarter.

FG Merger II Price Performance

FG Merger II stock opened at $9.61 on Wednesday. FG Merger II has a 1-year low of $9.00 and a 1-year high of $11.76. The stock has a market cap of $24.99 million, a PE ratio of 961.00 and a beta of 0.07. The stock’s fifty day moving average is $10.22 and its two-hundred day moving average is $10.12.

FG Merger II (NASDAQ:FGMC) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.04 earnings per share for the quarter.

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.