RYTHM (NASDAQ:RYM) Posts Earnings Results

RYTHM (NASDAQ:RYM) posted its quarterly earnings results on Friday. The company reported ($5.31) earnings per share (EPS) for the quarter, Zacks reports. The firm had revenue of $4.04 million for the quarter. RYTHM had a negative net margin of 424.11% and a negative return on equity of 185.90%.

RYTHM Price Performance

RYM traded down $1.44 during trading on Friday, reaching $37.34. 8,566 shares of the company were exchanged, compared to its average volume of 21,578. RYTHM has a 52 week low of $4.29 and a 52 week high of $84.44. The company has a debt-to-equity ratio of 1.43, a current ratio of 2.64 and a quick ratio of 2.52. The company has a market cap of $74.68 million, a P/E ratio of -1.65 and a beta of 9.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of RYTHM in a report on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Insider Activity

In other news, CEO Benjamin Kovler purchased 1,000 shares of RYTHM stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $37.08 per share, with a total value of $37,080.00. Following the completion of the acquisition, the chief executive officer owned 19,000 shares in the company, valued at $704,520. The trade was a 5.56% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.16% of the company’s stock.

About RYTHM

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.