FG Merger II Corp. (NASDAQ:FGMC) Short Interest Up 97.6% in January

FG Merger II Corp. (NASDAQ:FGMC) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 36,460 shares, an increase of 97.6% from the January 15th total of 18,451 shares. Based on an average daily trading volume, of 38,676 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.4% of the shares of the stock are sold short. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 38,676 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

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

FG Merger II Price Performance

NASDAQ FGMC opened at $10.08 on Friday. FG Merger II has a fifty-two week low of $9.53 and a fifty-two week high of $10.25. The business has a fifty day moving average of $10.06 and a 200-day moving average of $10.02. The stock has a market cap of $26.21 million and a price-to-earnings ratio of 1,008.00.

Institutional Investors Weigh In On FG Merger II

Hedge funds have recently modified their holdings of the company. DLD Asset Management LP raised its position in shares of FG Merger II by 10.7% in the fourth quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock valued at $1,112,000 after buying an additional 10,725 shares during the last quarter. Crossingbridge Advisors LLC grew its stake in FG Merger II by 148.8% in the 4th quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock worth $610,000 after acquiring an additional 36,424 shares during the period. Highbridge Capital Management LLC raised its holdings in FG Merger II by 119.9% in the 4th quarter. Highbridge Capital Management LLC now owns 559,889 shares of the company’s stock valued at $5,621,000 after acquiring an additional 305,282 shares during the last quarter. Quarry LP raised its holdings in FG Merger II by 128.8% in the 3rd quarter. Quarry LP now owns 177,635 shares of the company’s stock valued at $1,775,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Clear Street Group Inc. purchased a new position in shares of FG Merger II during the 3rd quarter worth $5,539,000.

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.