AGM Group (NASDAQ:AGMH) Trading 2.7% Higher – Time to Buy?

Shares of AGM Group Holdings Inc. (NASDAQ:AGMH) were up 2.7% during mid-day trading on Friday . The stock traded as high as $1.1650 and last traded at $1.0991. 158,921 shares were traded during trading, an increase of 191% from the average session volume of 54,565 shares. The stock had previously closed at $1.07.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of AGM Group in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell” and an average target price of $5.77.

AGM Group Stock Performance

The business has a 50-day moving average price of $1.15 and a 200-day moving average price of $1.26.

Hedge Funds Weigh In On AGM Group

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

About AGM Group

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.