FG Merger II Corp. (NASDAQ:FGMC) Short Interest Update

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 14,912 shares, a decline of 59.1% from the January 29th total of 36,460 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average daily volume of 56,271 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 56,271 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Investors Weigh In On FG Merger II

Several institutional investors have recently bought and sold shares of the company. Highbridge Capital Management LLC purchased a new stake in shares of FG Merger II during the second quarter worth about $954,000. Wolverine Asset Management LLC purchased a new position in shares of FG Merger II during the second quarter worth $277,000. Bluefin Capital Management LLC purchased a new position in shares of FG Merger II during the second quarter worth $1,167,000. DLD Asset Management LP acquired a new position in FG Merger II during the second quarter valued at $1,482,000. Finally, Crossingbridge Advisors LLC purchased a new stake in FG Merger II in the second quarter valued at $242,000.

FG Merger II Stock Performance

FG Merger II stock traded up $0.01 during midday trading on Friday, hitting $10.09. 29,936 shares of the company’s stock were exchanged, compared to its average volume of 44,175. The company has a market cap of $26.23 million and a PE ratio of 1,009.00. FG Merger II has a 12 month low of $9.53 and a 12 month high of $10.25. The firm has a 50-day moving average of $10.07 and a two-hundred day moving average of $10.03.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of FG Merger II in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock 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.