Short Interest in FG Merger II Corp. (NASDAQ:FGMC) Increases By 20.1%

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 33,593 shares, a growth of 20.1% from the February 26th total of 27,976 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 25,605 shares, the short-interest ratio is currently 1.3 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On FG Merger II

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Clear Street Group Inc. acquired a new position in shares of FG Merger II in the 3rd quarter valued at $5,539,000. Berkley W R Corp acquired a new stake in shares of FG Merger II during the 3rd quarter worth $3,158,000. Highbridge Capital Management LLC raised its position in shares of FG Merger II by 119.9% in the 4th quarter. Highbridge Capital Management LLC now owns 559,889 shares of the company’s stock worth $5,621,000 after buying an additional 305,282 shares during the period. Rivernorth Capital Management LLC raised its position in shares of FG Merger II by 28.6% in the 4th 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 during the period. Finally, Bluefin Capital Management LLC acquired a new position in FG Merger II in the second quarter valued at $1,167,000.

FG Merger II Price Performance

FGMC opened at $10.09 on Thursday. The stock has a market capitalization of $26.23 million, a price-to-earnings ratio of 1,009.00 and a beta of 0.06. The business has a 50-day moving average of $10.09 and a two-hundred day moving average of $10.05. FG Merger II has a 12 month low of $9.57 and a 12 month high of $10.25.

FG Merger II (NASDAQ:FGMC) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.04 EPS for the quarter.

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.