AGM Group (NASDAQ:AGMH) Stock Price Down 2.3% – Here’s What Happened

AGM Group Holdings Inc. (NASDAQ:AGMH)’s share price traded down 2.3% during mid-day trading on Friday . The stock traded as low as $0.8580 and last traded at $0.8580. Approximately 9,582 shares changed hands during trading, a decline of 75% from the average daily volume of 38,180 shares. The stock had previously closed at $0.8780.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of AGM Group from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $5.77.

AGM Group Trading Down 2.3%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 11.46 and a current ratio of 13.27. The stock has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.06.

AGM Group (NASDAQ:AGMH) last posted its quarterly earnings data on Friday, August 7th. The company reported $1.18 earnings per share (EPS) for the quarter. The firm had revenue of $5.13 million during the quarter.

Institutional Trading of AGM Group

An institutional investor recently bought a new position in AGM Group stock. Bank of America Corp DE purchased a new position in shares of AGM Group Holdings Inc. (NASDAQ:AGMH) during the 2nd quarter, according to its most recent Form 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 approximately 3.02% of AGM Group as of its most recent filing with the Securities and Exchange Commission (SEC).

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.