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

AGM Group Holdings Inc. (NASDAQ:AGMH) was the target of a large growth in short interest in 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. Approximately 3.2% of the company’s stock are short sold.

AGM Group Stock Performance

NASDAQ:AGMH opened at $1.10 on Tuesday. AGM Group has a one year low of $0.77 and a one year high of $18.10. The firm has a 50-day simple moving average of $1.09 and a 200-day simple moving average of $1.42.

Hedge Funds Weigh In On AGM Group

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of AGM Group in a research report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average 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.