RYTHM (NASDAQ:RYM) Issues Quarterly Earnings Results

RYTHM (NASDAQ:RYM) released its quarterly earnings data on Wednesday. The company reported ($0.07) EPS for the quarter, FiscalAI reports. RYTHM had a negative return on equity of 12.57% and a negative net margin of 6.20%. The company had revenue of $23.86 million for the quarter.

RYTHM Trading Up 9.1%

RYM stock traded up $1.50 during trading hours on Wednesday, hitting $18.00. 34,700 shares of the stock were exchanged, compared to its average volume of 15,342. RYTHM has a 12 month low of $14.00 and a 12 month high of $50.38. The firm has a market capitalization of $39.23 million, a P/E ratio of -1.72 and a beta of 9.94. The company has a 50-day simple moving average of $20.39 and a two-hundred day simple moving average of $21.85.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RYTHM in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On RYTHM

An institutional investor recently bought a new position in RYTHM stock. Corient Private Wealth LP bought a new position in shares of RYTHM, Inc. (NASDAQ:RYM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,500 shares of the company’s stock, valued at approximately $242,000. Corient Private Wealth LP owned approximately 0.44% of RYTHM as of its most recent SEC filing. Institutional investors own 5.98% 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. It also provides associated services comprising consulting, engineering, and construction.