AFC Gamma (NASDAQ:AFCG) Receives "Sell (D)" Rating from Weiss Ratings

Key Points

• AFC Gamma received a "Sell (D)" rating from Weiss Ratings, reaffirming its low investment attractiveness.
• Analysts from Alliance Global Partners downgraded AFC Gamma from a "buy" to a "hold" rating, setting a price target of $4.50.
• Insider buying activity was noted, with CEO Daniel Neville purchasing over 12,000 shares recently, indicating some confidence in the company's future.

AFC Gamma (NASDAQ:AFCG - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Alliance Global Partners cut AFC Gamma from a "buy" rating to a "hold" rating and set a $4.50 price objective on the stock. in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $5.75.

AFC Gamma Price Performance

Shares of AFCG stock traded up $0.05 during trading hours on Wednesday, hitting $3.78. The stock had a trading volume of 50,239 shares, compared to its average volume of 228,293. AFC Gamma has a one year low of $3.44 and a one year high of $10.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.13 and a quick ratio of 3.13. The stock's 50-day moving average price is $4.33 and its two-hundred day moving average price is $4.81. The stock has a market capitalization of $85.39 million, a price-to-earnings ratio of -9.22 and a beta of 1.04.

Insider Buying and Selling

In other AFC Gamma news, CEO Daniel Neville bought 12,388 shares of the business's stock in a transaction dated Monday, September 8th. The shares were purchased at an average price of $4.44 per share, with a total value of $55,002.72. Following the completion of the purchase, the chief executive officer owned 209,649 shares in the company, valued at $930,841.56. This represents a 6.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leonard M. Tannenbaum bought 330,127 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were acquired at an average cost of $4.81 per share, for a total transaction of $1,587,910.87. Following the purchase, the director owned 4,665,150 shares of the company's stock, valued at approximately $22,439,371.50. The trade was a 7.62% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,030,683 shares of company stock worth $4,590,274. Insiders own 25.10% of the company's stock.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.

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