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

FG Merger II Corp. (NASDAQ:FGMC) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 18,451 shares, a growth of 126.3% from the December 31st total of 8,155 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 45,858 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 45,858 shares, the short-interest ratio is currently 0.4 days. Currently, 0.7% of the shares of the stock are short sold.

FG Merger II Price Performance

Shares of FGMC stock traded up $0.03 during trading hours on Friday, reaching $10.10. The company had a trading volume of 37,124 shares, compared to its average volume of 40,507. The company has a market cap of $26.26 million and a price-to-earnings ratio of 1,010.00. FG Merger II has a 12 month low of $9.53 and a 12 month high of $10.25. The business has a fifty day simple moving average of $10.05 and a 200-day simple moving average of $10.01.

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

Institutional Trading of FG Merger II

Hedge funds and other institutional investors have recently bought and sold shares of the company. Flow Traders U.S. LLC bought a new stake in FG Merger II during the 2nd quarter valued at $115,000. Crossingbridge Advisors LLC purchased a new position in shares of FG Merger II in the second quarter valued at about $242,000. Wolverine Asset Management LLC bought a new position in shares of FG Merger II during the second quarter valued at about $277,000. SkyView Investment Advisors LLC purchased a new stake in shares of FG Merger II during the second quarter worth about $789,000. Finally, Highbridge Capital Management LLC purchased a new stake in shares of FG Merger II during the second quarter worth about $954,000.

Analysts Set New Price Targets

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