FG Merger II (NASDAQ:FGMC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of FG Merger II (NASDAQ:FGMC) to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Merger II in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

FG Merger II Price Performance

NASDAQ FGMC opened at $10.11 on Friday. The firm’s 50-day moving average is $10.09 and its two-hundred day moving average is $10.05. FG Merger II has a 12 month low of $9.58 and a 12 month high of $10.25. The stock has a market capitalization of $26.29 million, a P/E ratio of 1,011.00 and a beta of 0.06.

FG Merger II (NASDAQ:FGMC) last posted its earnings results on Tuesday, March 31st. The company reported $0.04 EPS for the quarter.

Institutional Trading of FG Merger II

Institutional investors and hedge funds have recently bought and sold shares of the business. Highbridge Capital Management LLC increased its stake in FG Merger II by 163.3% during the third quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock worth $2,544,000 after purchasing an additional 157,902 shares during the period. Berkley W R Corp purchased a new stake in shares of FG Merger II during the third quarter worth approximately $3,158,000. Bluefin Capital Management LLC purchased a new stake in shares of FG Merger II during the second quarter worth approximately $1,167,000. Clear Street Group Inc. purchased a new stake in shares of FG Merger II during the third quarter worth approximately $5,539,000. Finally, Wolverine Asset Management LLC increased its stake in shares of FG Merger II by 112.4% during the third quarter. Wolverine Asset Management LLC now owns 59,474 shares of the company’s stock worth $594,000 after buying an additional 31,478 shares during the period.

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.