Look At Analyst Expectations For A Better Read On Forum Merger II Corporation (NASDAQ: FMCI)


    Falcon Edge Capital LP recently announced the acquisition of new stake in Forum Merger II Corporation (NASDAQ:FMCI). This fresh investment now brings its stake to 9.58% valued currently at $29.08 million. In addition, Atom Investors LP raised its holdings by 0.23 million to 0.23 million shares.

    With over 1.5 million Forum Merger II Corporation (FMCI) shares trading Tuesday and a closing price of $18.36 on the day, the dollar volume was approximately $27.48 million. The shares have shown a positive weekly performance of 3.49% and its price on 09/01/20 gained nearly 6.43%. Currently, there are 20.65M common shares owned by the public and among those 1.93M shares have been available to trade.

    The top 3 mutual fund holders in Forum Merger II Corporation are Westchester Capital Merger Fund, GAMCO International SICAV – Merge, and Special Opportunities Fund, Inc. Westchester Capital Merger Fund owns 0.61 million shares of the company’s stock, all valued at over $9.01 million. The company bought an additional 0.28 million shares recently to bring their total holdings to about 2.97% of the shares outstanding. GAMCO International SICAV – Merge bought 39700.0 shares to see its total holdings expand to 0.27 million shares valued at over $3.9 million and representing 1.29% of the shares outstanding. Special Opportunities Fund, Inc. bought 50000.0 shares to bring its total holdings to over 0.17 million shares at a value of $2.57 million. Special Opportunities Fund, Inc. now owns shares totaling to 0.85% of the shares outstanding.

    Shares of Forum Merger II Corporation (NASDAQ: FMCI) opened at $17.46, up $0.21 from a prior closing price of $17.25. However, the script later closed the day at $18.36, up 6.43%. The company’s stock has a 5-day price change of 3.49% and 55.07% over the past three months. FMCI shares are trading 79.82% year to date (YTD), with the 12-month market performance up to 84.52% higher. It has a 12-month low price of $9.76 and touched a high of $20.00 over the same period. Currently, 1.5 million shares have been traded, compared to an average intraday trading volume of 2.35 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.84%, 17.04%, and 53.30% respectively.

    Institutional ownership of Forum Merger II Corporation (NASDAQ: FMCI) shares accounts for 97.77% of the company’s 20.65M shares outstanding. Mutual fund holders own 15.76%, while other institutional holders and individual stakeholders account for 6.50% and — respectively.

    It has a market capitalization of $379.14M. The earnings-per-share (ttm) stands at -$0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.39% over the week and 6.42% over the month.


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