FG Merger II Corp. (NASDAQ:FGMC) Short Interest Down 21.7% in December

FG Merger II Corp. (NASDAQ:FGMC) saw a large decrease in short interest in December. As of December 15th, there was short interest totaling 18,865 shares, a decrease of 21.7% from the November 30th total of 24,103 shares. Based on an average daily volume of 79,469 shares, the short-interest ratio is presently 0.2 days. Currently, 0.7% of the company’s stock are short sold. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 79,469 shares, the short-interest ratio is presently 0.2 days.

FG Merger II Price Performance

NASDAQ:FGMC remained flat at $10.03 on Tuesday. The company’s stock had a trading volume of 32,919 shares, compared to its average volume of 50,346. FG Merger II has a 12-month low of $9.53 and a 12-month high of $10.10. The company has a market cap of $26.08 million and a price-to-earnings ratio of 1,003.00. The firm has a 50 day moving average of $10.02 and a two-hundred day moving average of $9.97.

FG Merger II (NASDAQ:FGMC) last posted its earnings results on Wednesday, November 5th. The company reported $0.01 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of FG Merger II in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Arbitrage LLC bought a new position in FG Merger II in the 1st quarter valued at about $7,587,000. Clear Street Group Inc. bought a new position in shares of FG Merger II during the third quarter worth approximately $5,539,000. Berkley W R Corp acquired a new stake in FG Merger II during the 3rd quarter worth approximately $3,158,000. Highbridge Capital Management LLC boosted its stake in FG Merger II by 163.3% in the 3rd quarter. Highbridge Capital Management LLC now owns 254,607 shares of the company’s stock valued at $2,544,000 after purchasing an additional 157,902 shares during the period. Finally, Wealthspring Capital LLC bought a new stake in FG Merger II in the 2nd quarter valued at $2,044,000.

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.