FG Merger II Corp. (NASDAQ:FGMC) Short Interest Update

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 36,460 shares, an increase of 97.6% from the January 15th total of 18,451 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average trading volume of 38,676 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 38,676 shares, the days-to-cover ratio is currently 0.9 days. Approximately 1.4% of the company’s stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Trading of FG Merger II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC acquired a new stake in shares of FG Merger II during the second quarter worth about $115,000. Crossingbridge Advisors LLC purchased a new position in FG Merger II during the second quarter valued at approximately $242,000. Wolverine Asset Management LLC purchased a new stake in FG Merger II in the 2nd quarter worth approximately $277,000. SkyView Investment Advisors LLC acquired a new stake in shares of FG Merger II during the 2nd quarter worth approximately $789,000. Finally, Highbridge Capital Management LLC purchased a new position in shares of FG Merger II during the 2nd quarter valued at approximately $954,000.

FG Merger II Trading Up 0.1%

Shares of FG Merger II stock opened at $10.08 on Friday. FG Merger II has a 12-month low of $9.53 and a 12-month high of $10.25. The firm’s 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $10.02. The firm has a market capitalization of $26.21 million and a price-to-earnings ratio of 1,008.00.

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.