FG Merger II Corp. (NASDAQ:FGMC) Short Interest Up 126.3% in January

FG Merger II Corp. (NASDAQ:FGMC) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 18,451 shares, an increase of 126.3% from the December 31st total of 8,155 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average daily trading volume, of 45,858 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 45,858 shares, the short-interest ratio is presently 0.4 days. Approximately 0.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On FG Merger II

Large investors have recently made changes to their positions in the company. Flow Traders U.S. LLC bought a new position in shares of FG Merger II during the 2nd quarter valued at approximately $115,000. Crossingbridge Advisors LLC bought a new stake in shares of FG Merger II during the 2nd quarter worth approximately $242,000. Wolverine Asset Management LLC bought a new stake in shares of FG Merger II during the second quarter worth $277,000. SkyView Investment Advisors LLC purchased a new stake in FG Merger II in the 2nd quarter valued at about $789,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of FG Merger II in the second quarter valued at approximately $954,000.

FG Merger II Price Performance

FGMC stock remained flat at $10.08 during trading on Thursday. The company’s stock had a trading volume of 13,908 shares, compared to its average volume of 42,402. The firm has a market cap of $26.17 million and a P/E ratio of 1,008.00. The company has a 50-day moving average price of $10.05 and a two-hundred day moving average price of $10.00. FG Merger II has a 1-year low of $9.53 and a 1-year high of $10.25.

FG Merger II (NASDAQ:FGMC) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.01 EPS for the quarter.

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.