AGM Group Holdings Inc. (NASDAQ:AGMH) Short Interest Update

AGM Group Holdings Inc. (NASDAQ:AGMH) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 55,709 shares, a growth of 64.2% from the July 15th total of 33,932 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily volume of 71,963 shares, the days-to-cover ratio is currently 0.8 days.

AGM Group Stock Performance

NASDAQ AGMH opened at $0.99 on Monday. The company has a fifty day moving average price of $1.08 and a 200-day moving average price of $1.14. AGM Group has a 1 year low of $0.70 and a 1 year high of $18.10. The company has a current ratio of 13.27, a quick ratio of 11.46 and a debt-to-equity ratio of 0.05.

AGM Group (NASDAQ:AGMH) last announced its quarterly earnings data on Friday, August 7th. The company reported $1.18 EPS for the quarter. The company had revenue of $5.13 million during the quarter.

Hedge Funds Weigh In On AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE purchased a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned about 3.02% of AGM Group at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered AGM Group from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, AGM Group has a consensus rating of “Sell” and a consensus target price of $5.77.

AGM Group Company Profile

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.