FG Merger II Corp. (NASDAQ:FGMC) Sees Significant Increase in Short Interest

FG Merger II Corp. (NASDAQ:FGMC) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 18,451 shares, an increase of 126.3% from the December 31st total of 8,155 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 45,858 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 45,858 shares, the short-interest ratio is currently 0.4 days. Currently, 0.7% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On FG Merger II

Several hedge funds have recently added to or reduced their stakes in FGMC. Wolverine Asset Management LLC acquired a new stake in shares of FG Merger II in the second quarter valued at about $277,000. Highbridge Capital Management LLC purchased a new position in shares of FG Merger II in the second quarter valued at approximately $954,000. Bluefin Capital Management LLC purchased a new stake in shares of FG Merger II during the second quarter worth approximately $1,167,000. Wealthspring Capital LLC acquired a new position in FG Merger II in the 2nd quarter valued at $2,044,000. Finally, Crossingbridge Advisors LLC purchased a new stake in shares of FG Merger II during the second quarter worth $242,000.

FG Merger II Stock Performance

NASDAQ FGMC remained flat at $10.08 during trading on Thursday. The company’s stock had a trading volume of 13,908 shares, compared to its average volume of 42,402. FG Merger II has a fifty-two week low of $9.53 and a fifty-two week high of $10.25. The company has a market capitalization of $26.17 million and a P/E ratio of 1,008.00. The firm’s fifty day moving average is $10.05 and its 200 day moving average is $10.00.

FG Merger II (NASDAQ:FGMC) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.01 EPS for the 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.