AGM Group (NASDAQ:AGMH) Shares Down 2% – What’s Next?
by Kim Johansen · The Markets DailyAGM Group Holdings Inc. (NASDAQ:AGMH – Get Free Report)’s share price dropped 2% on Wednesday . The stock traded as low as $0.9570 and last traded at $0.9799. Approximately 41,621 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 39,270 shares. The stock had previously closed at $1.00.
Wall Street Analyst Weigh In
Separately, Weiss Ratings cut AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell” and a consensus target price of $5.77.
Read Our Latest Stock Analysis on AGMH
AGM Group Stock Down 2.0%
The stock has a fifty day moving average price of $1.47 and a 200-day moving average price of $3.01.
Institutional Investors Weigh In On AGM Group
An institutional investor recently bought a new position in AGM Group stock. Bank of America Corp DE bought a new stake in shares of AGM Group Holdings Inc. (NASDAQ:AGMH – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned approximately 3.02% of AGM Group at the end of the most recent reporting period.
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.