AGM Group (NASDAQ:AGMH) Shares Up 2.7% – Should You Buy?

AGM Group Holdings Inc. (NASDAQ:AGMH)’s stock price was up 2.7% during trading on Friday . The stock traded as high as $1.1650 and last traded at $1.0991. 158,921 shares were traded during mid-day trading, an increase of 191% from the average session volume of 54,565 shares. The stock had previously closed at $1.07.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of AGM Group in a report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and an average target price of $5.77.

AGM Group Price Performance

The company has a 50-day simple moving average of $1.15 and a 200 day simple moving average of $1.26.

Institutional Trading of AGM Group

A hedge fund recently bought a new position in AGM Group stock. Bank of America Corp DE purchased a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent filing with the Securities & Exchange Commission.

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.