FG Merger II Corp. (NASDAQ:FGMC) Sees Large Decline in Short Interest

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 8,155 shares, a decline of 56.8% from the December 15th total of 18,865 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 56,889 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 56,889 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.3% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of FG Merger II in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

FG Merger II Trading Down 0.2%

NASDAQ:FGMC traded down $0.02 during mid-day trading on Thursday, hitting $10.08. The stock had a trading volume of 20,976 shares, compared to its average volume of 45,043. FG Merger II has a 52 week low of $9.53 and a 52 week high of $10.25. The stock has a market capitalization of $26.21 million and a price-to-earnings ratio of 1,008.00. The company has a 50 day simple moving average of $10.03 and a 200-day simple moving average of $9.99.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FGMC. Flow Traders U.S. LLC acquired a new stake in FG Merger II in the second quarter worth approximately $115,000. Crossingbridge Advisors LLC acquired a new position in FG Merger II during the second quarter worth about $242,000. Wolverine Asset Management LLC acquired a new position in FG Merger II during the second quarter worth about $277,000. SkyView Investment Advisors LLC bought a new stake in FG Merger II in the second quarter worth about $789,000. Finally, Highbridge Capital Management LLC acquired a new stake in FG Merger II in the 2nd quarter valued at about $954,000.

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.