Short Interest in FG Merger II Corp. (NASDAQ:FGMC) Drops By 56.8%

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 8,155 shares, a drop of 56.8% from the December 15th total of 18,865 shares. Based on an average daily trading volume, of 56,889 shares, the short-interest ratio is currently 0.1 days. Approximately 0.3% of the shares of the company are sold short. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 56,889 shares, the short-interest ratio is currently 0.1 days.

FG Merger II Price Performance

Shares of FGMC traded down $0.01 during trading hours on Wednesday, reaching $10.10. 4,053 shares of the company’s stock traded hands, compared to its average volume of 46,487. FG Merger II has a twelve month low of $9.53 and a twelve month high of $10.25. The business’s fifty day simple moving average is $10.03 and its two-hundred day simple moving average is $9.99. The firm has a market capitalization of $26.26 million and a price-to-earnings ratio of 1,010.00.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On FG Merger II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Street Group Inc. bought a new position in FG Merger II during the 3rd quarter valued at $5,539,000. Berkley W R Corp bought a new stake in shares of FG Merger II in the 3rd quarter worth $3,158,000. Wealthspring Capital LLC acquired a new stake in shares of FG Merger II in the second quarter valued at $2,044,000. Highbridge Capital Management LLC boosted 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 valued at $2,544,000 after buying an additional 157,902 shares in the last quarter. Finally, DLD Asset Management LP acquired a new position in FG Merger II during the second quarter worth about $1,482,000.

FG Merger II Company Profile

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.