FG Merger II (NASDAQ:FGMC) Posts Quarterly Earnings Results
by Teresa Graham · The Cerbat GemFG Merger II (NASDAQ:FGMC – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports.
FG Merger II Stock Up 0.1%
NASDAQ:FGMC traded up $0.02 during trading hours on Friday, reaching $10.34. The company had a trading volume of 22,680 shares, compared to its average volume of 42,290. The business’s 50-day simple moving average is $10.13 and its two-hundred day simple moving average is $10.08. The firm has a market cap of $26.87 million, a price-to-earnings ratio of 1,033.50 and a beta of 0.04. FG Merger II has a twelve month low of $9.73 and a twelve month high of $10.34.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of FG Merger II to a “hold” rating in a research report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.
Get Our Latest Report on FG Merger II
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in FGMC. Highbridge Capital Management LLC raised its position in shares of FG Merger II by 163.3% during the third quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock worth $2,544,000 after purchasing an additional 157,902 shares during the period. Berkley W R Corp bought a new position in shares of FG Merger II in the 3rd quarter worth $3,158,000. Clear Street Group Inc. acquired a new stake in FG Merger II in the 3rd quarter valued at $5,539,000. Wolverine Asset Management LLC increased its stake 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 valued at $594,000 after purchasing an additional 31,478 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its stake in FG Merger II by 28.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 642,969 shares of the company’s stock valued at $6,455,000 after purchasing an additional 142,969 shares in the last quarter.
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.