Agrify Co. (NASDAQ:AGFY) Short Interest Down 15.1% in December

Agrify Co. (NASDAQ:AGFY – Get Rating) was the recipient of a significant drop in short interest during the month of December. As of December 30th, there was short interest totalling 424,400 shares, a drop of 15.1% from the December 15th total of 499,800 shares. Approximately 6.7% of the shares of the company are short sold. Based on an average trading volume of 2,760,000 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Roth Capital lowered their price target on shares of Agrify to $1.75 in a research report on Tuesday, November 1st. Alliance Global Partners lowered shares of Agrify from a “buy” rating to a “neutral” rating in a research report on Thursday, November 10th. Finally, Maxim Group lowered their price target on shares of Agrify from $40.00 to $3.00 in a research report on Thursday, November 10th.

Agrify Price Performance

AGFY stock opened at $0.59 on Friday. The company has a quick ratio of 0.52, a current ratio of 1.53 and a debt-to-equity ratio of 0.86. Agrify has a 12 month low of $0.25 and a 12 month high of $86.35. The firm has a market cap of $5.25 million, a P/E ratio of -0.01 and a beta of 1.57. The company’s 50-day moving average price is $0.70 and its two-hundred day moving average price is $6.24.

Agrify (NASDAQ:AGFY – Get Rating) last released its earnings results on Wednesday, November 9th. The company reported ($12.26) EPS for the quarter, missing the consensus estimate of ($2.21) by ($10.05). Agrify had a negative net margin of 208.40% and a negative return on equity of 67.86%. The firm had revenue of $7.02 million during the quarter, compared to the consensus estimate of $12.50 million. On average, analysts anticipate that Agrify will post -25.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Agrify

In related news, Director Guichao Hua bought 54,264 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was bought at an average price of $85.10 per share, for a total transaction of $4,617,866.40. Following the purchase, the director now owns 65,956 shares in the company, valued at approximately $5,612,855.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Raymond Nobu Chang bought 2,307,692 shares of the business’s stock in a transaction dated Tuesday, December 20th. The stock was bought at an average price of $0.65 per share, for a total transaction of $1,499,999.80. Following the purchase, the chief executive officer now owns 2,361,538 shares in the company, valued at approximately $1,534,999.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Guichao Hua purchased 54,264 shares of the stock in a transaction that occurred on Monday, December 19th. The shares were acquired at an average cost of $85.10 per share, for a total transaction of $4,617,866.40. Following the completion of the transaction, the director now owns 65,956 shares of the company’s stock, valued at approximately $5,612,855.60. The disclosure for this purchase can be found here. Corporate insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Agrify

Several hedge funds have recently bought and sold shares of AGFY. Private Advisor Group LLC bought a new position in Agrify in the 1st quarter valued at about $101,000. BlackRock Inc. boosted its stake in shares of Agrify by 1.5% in the 1st quarter. BlackRock Inc. now owns 307,063 shares of the company’s stock valued at $1,421,000 after purchasing an additional 4,533 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Agrify by 57.6% in the 1st quarter. Vanguard Group Inc. now owns 1,236,178 shares of the company’s stock valued at $5,724,000 after purchasing an additional 451,733 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in shares of Agrify by 72.3% in the 1st quarter. Vident Investment Advisory LLC now owns 43,337 shares of the company’s stock valued at $201,000 after purchasing an additional 18,178 shares in the last quarter. Finally, Baader Bank INC boosted its stake in shares of Agrify by 150.0% in the 1st quarter. Baader Bank INC now owns 100,000 shares of the company’s stock valued at $463,000 after purchasing an additional 60,000 shares in the last quarter.

About Agrify

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Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products.