FG Merger II Corp. (NASDAQ:FGMC) Short Interest Update
by Mitch Edgeman · The Markets DailyFG Merger II Corp. (NASDAQ:FGMC – Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 27,976 shares, an increase of 87.6% from the February 12th total of 14,912 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 33,121 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 33,121 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.1% of the company’s stock are short sold.
FG Merger II Stock Performance
Shares of NASDAQ:FGMC remained flat at $10.09 on Thursday. The stock had a trading volume of 15,709 shares, compared to its average volume of 38,130. FG Merger II has a 1 year low of $9.56 and a 1 year high of $10.25. The business has a 50 day moving average price of $10.08 and a 200 day moving average price of $10.03. The company has a market capitalization of $26.23 million and a P/E ratio of 1,009.00.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.
Check Out Our Latest Report on FGMC
Institutional Trading of FG Merger II
Institutional investors and hedge funds have recently bought and sold shares of the company. Rivernorth Capital Management LLC lifted its stake in shares of FG Merger II by 28.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 642,969 shares of the company’s stock worth $6,455,000 after buying an additional 142,969 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of FG Merger II by 119.9% during the fourth 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 in the last quarter. Clear Street Group Inc. purchased a new position in FG Merger II in the 3rd quarter worth approximately $5,539,000. Berkley W R Corp bought a new position in FG Merger II in the 3rd quarter valued at approximately $3,158,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in FG Merger II by 19.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 254,099 shares of the company’s stock valued at $2,551,000 after acquiring an additional 41,683 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.