Agrify (NASDAQ:AGFY) Stock Price Up 8.6%

Agrify Co. (NASDAQ:AGFY) shares rose 8.6% during trading on Thursday . The stock traded as high as $25.50 and last traded at $25.50. Approximately 7,611 shares traded hands during trading, a decline of 99% from the average daily volume of 791,078 shares. The stock had previously closed at $23.47.

AGFY has been the subject of several analyst reports. Maxim Group increased their price objective on Agrify from $22.00 to $40.00 and gave the company a “buy” rating in a report on Monday, August 16th. Craig Hallum increased their price objective on Agrify from $25.00 to $32.00 and gave the company a “buy” rating in a report on Friday, August 13th. Roth Capital increased their price objective on Agrify from $20.00 to $31.00 and gave the company a “buy” rating in a report on Friday, August 13th. Finally, Zacks Investment Research lowered Agrify from a “hold” rating to a “sell” rating in a report on Wednesday, August 18th.

The company has a market cap of $465.43 million and a PE ratio of -6.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.73 and a current ratio of 7.20. The stock has a 50 day moving average of $23.59 and a 200-day moving average of $15.58.

Agrify (NASDAQ:AGFY) last issued its earnings results on Thursday, August 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.04). The company had revenue of $11.83 million during the quarter, compared to the consensus estimate of $9.70 million. Equities research analysts forecast that Agrify Co. will post -1.14 EPS for the current year.

In other Agrify news, CEO Raymond Nobu Chang sold 42,899 shares of Agrify stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $30.52, for a total transaction of $1,309,277.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGFY. American International Group Inc. purchased a new position in shares of Agrify during the 1st quarter valued at about $46,000. BlackRock Inc. acquired a new stake in shares of Agrify during the 1st quarter valued at about $3,327,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Agrify during the 1st quarter valued at about $125,000. Royce & Associates LP acquired a new stake in shares of Agrify during the 1st quarter valued at about $1,435,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Agrify during the 1st quarter valued at about $2,213,000. Institutional investors and hedge funds own 15.47% of the company’s stock.

About Agrify (NASDAQ:AGFY)

Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States. It offers vertical farming units, 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.

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