Short Interest in AGM Group Holdings Inc. (NASDAQ:AGMH) Rises By 111.7%

AGM Group Holdings Inc. (NASDAQ:AGMH) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 67,058 shares, a growth of 111.7% from the May 31st total of 31,670 shares. Based on an average daily trading volume, of 562,493 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.2% of the company’s shares are sold short.

AGM Group Stock Up 0.4%

Shares of AGM Group stock traded up $0.01 on Wednesday, hitting $1.20. The stock had a trading volume of 8,124 shares, compared to its average volume of 172,304. AGM Group has a one year low of $0.77 and a one year high of $18.10. The stock’s 50-day simple moving average is $1.09 and its two-hundred day simple moving average is $1.41.

Institutional Investors Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE acquired a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned about 3.02% of AGM Group at the end of the most recent quarter.

Analysts Set New Price Targets

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

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.