AGM Group (NASDAQ:AGMH) Trading Down 12.8% – Should You Sell?

AGM Group Holdings Inc. (NASDAQ:AGMHGet Free Report)’s share price traded down 12.8% on Thursday . The stock traded as low as $1.37 and last traded at $1.43. 566,002 shares traded hands during mid-day trading, an increase of 68% from the average session volume of 337,172 shares. The stock had previously closed at $1.64.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered AGM Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell” and a consensus price target of $5.77.

Check Out Our Latest Research Report on AGMH

AGM Group Price Performance

The stock has a 50-day moving average of $2.21 and a two-hundred day moving average of $3.20.

AGM Group (NASDAQ:AGMHGet Free Report) last posted its quarterly earnings data on Friday, October 10th. The company reported $1.85 EPS for the quarter. The firm had revenue of $10.15 million for the quarter.

Institutional Trading of AGM Group

A hedge fund recently bought a new stake in AGM Group stock. Bank of America Corp DE purchased a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMHFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,982 shares of the company’s stock, valued at approximately $37,000. Bank of America Corp DE owned 3.02% of AGM Group as of its most recent filing with the Securities and Exchange Commission (SEC).

AGM Group Company Profile

(Get Free Report)

AGM Group Holdings, Inc (NASDAQ:AGMH) is a blank check company incorporated in Delaware in April 2021. It was formed as a special purpose acquisition company (SPAC) with no commercial operations at inception and no revenues other than interest earned on its trust account balances. The company’s primary objective is to identify and complete a business combination with one or more operating businesses.

In connection with its initial public offering, AGM Group issued units comprising one share of common stock and a fraction of one redeemable warrant, with gross proceeds deposited into a trust account.

Further Reading

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