FG Merger II Corp. (NASDAQ:FGMC) Sees Large Decrease in Short Interest
by Mitch Edgeman · The Markets DailyFG Merger II Corp. (NASDAQ:FGMC – Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 24,777 shares, a decline of 26.2% from the March 15th total of 33,593 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 38,777 shares, the days-to-cover ratio is currently 0.6 days.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of FG Merger II to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings restated 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.com, the company has a consensus rating of “Sell”.
Get Our Latest Research Report on FG Merger II
Institutional Trading of FG Merger II
Large investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC acquired a new position in shares of FG Merger II in the 2nd quarter valued at $115,000. Wolverine Asset Management LLC grew its holdings in FG Merger II by 112.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 59,474 shares of the company’s stock worth $594,000 after acquiring an additional 31,478 shares during the last quarter. Crossingbridge Advisors LLC boosted its stake in shares of FG Merger II by 148.8% in the 4th quarter. Crossingbridge Advisors LLC now owns 60,904 shares of the company’s stock valued at $610,000 after purchasing an additional 36,424 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in shares of FG Merger II in the 2nd quarter valued at about $789,000. Finally, DLD Asset Management LP boosted its stake in shares of FG Merger II by 10.7% in the 4th quarter. DLD Asset Management LP now owns 110,725 shares of the company’s stock valued at $1,112,000 after purchasing an additional 10,725 shares during the last quarter.
FG Merger II Trading Up 0.1%
FG Merger II stock traded up $0.01 during midday trading on Friday, reaching $10.14. 40,928 shares of the stock traded hands, compared to its average volume of 41,888. The firm has a fifty day moving average price of $10.09 and a two-hundred day moving average price of $10.06. The firm has a market cap of $26.36 million, a price-to-earnings ratio of 1,014.00 and a beta of 0.06. FG Merger II has a fifty-two week low of $9.59 and a fifty-two week high of $10.25.
FG Merger II (NASDAQ:FGMC – Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.04 earnings per share for the quarter.
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.