RYTHM (NASDAQ:RYM) Posts Earnings Results

RYTHM (NASDAQ:RYM) announced its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, FiscalAI reports. RYTHM had a negative net margin of 6.20% and a negative return on equity of 15.44%. The company had revenue of $23.02 million during the quarter.

RYTHM Price Performance

RYM traded down $2.91 during trading on Thursday, hitting $22.08. 9,859 shares of the stock traded hands, compared to its average volume of 15,363. The firm has a market capitalization of $48.11 million, a P/E ratio of -2.10 and a beta of 9.47. The firm has a 50-day moving average of $24.10 and a 200 day moving average of $22.51. RYTHM has a 12-month low of $14.00 and a 12-month high of $53.65.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wall Street Zen upgraded shares of RYTHM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of RYTHM from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, RYTHM currently has a consensus rating of “Sell”.

Insider Transactions at RYTHM

In other news, Director Armon Vakili sold 2,250 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $26.52, for a total transaction of $59,670.00. Following the completion of the sale, the director directly owned 10,850 shares in the company, valued at approximately $287,742. This represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Max Holtzman sold 5,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.00, for a total transaction of $130,000.00. Following the sale, the director owned 5,000 shares of the company’s stock, valued at approximately $130,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in RYTHM stock. Jane Street Group LLC acquired a new position in RYTHM, Inc. (NASDAQ:RYM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,968 shares of the company’s stock, valued at approximately $213,000. Jane Street Group LLC owned 0.46% of RYTHM as of its most recent filing with the Securities and Exchange Commission. 5.98% of the stock is owned by institutional investors and hedge funds.

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. It also provides associated services comprising consulting, engineering, and construction.