Agrify (NASDAQ:AGFY) Trading 5.7% Higher - Should You Buy?

Key Points

• Agrify Corporation's stock price rose by 5.7% to $29.37, despite trading volume decreasing by 43% from the average daily volume.
• The company reported an EPS of ($3.66) for the most recent quarter, with revenues of $2.04 million and a negative net margin of 424.11%.
• Insiders sold a total of 32,264 shares worth $760,272 in the last quarter, while institutional investors hold 5.98% of the company's stock.

Agrify Corporation (NASDAQ:AGFY - Get Free Report)'s stock price traded up 5.7% during mid-day trading on Wednesday . The company traded as high as $29.37 and last traded at $29.37. 7,671 shares were traded during trading, a decline of 43% from the average session volume of 13,568 shares. The stock had previously closed at $27.78.

Agrify Stock Performance

The company has a current ratio of 2.64, a quick ratio of 2.52 and a debt-to-equity ratio of 1.43. The business has a fifty day moving average price of $25.17 and a 200-day moving average price of $22.52.

Agrify (NASDAQ:AGFY - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported ($3.66) earnings per share (EPS) for the quarter. The business had revenue of $2.04 million for the quarter. Agrify had a negative net margin of 424.11% and a negative return on equity of 185.90%.

Insiders Place Their Bets

In other Agrify news, major shareholder Rslgh, Llc purchased 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The shares were purchased at an average cost of $25.00 per share, with a total value of $625,000.00. Following the completion of the acquisition, the insider directly owned 691,661 shares in the company, valued at $17,291,525. This trade represents a 3.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Mahoney sold 7,232 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $23.83, for a total value of $172,338.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,264 shares of company stock valued at $760,272. Company insiders own 2.16% of the company's stock.

Institutional Trading of Agrify

Hedge funds have recently bought and sold shares of the company. Marathon Partners Equity Management LLC purchased a new stake in Agrify during the fourth quarter valued at $174,000. AdvisorShares Investments LLC purchased a new stake in Agrify during the fourth quarter valued at $321,000. SG Capital Management LLC purchased a new stake in Agrify during the fourth quarter valued at $692,000. Renaissance Technologies LLC purchased a new stake in Agrify during the fourth quarter valued at $841,000. Finally, Rip Road Capital Partners LP increased its position in Agrify by 15.6% during the first quarter. Rip Road Capital Partners LP now owns 77,911 shares of the company's stock valued at $1,367,000 after acquiring an additional 10,528 shares during the last quarter. Hedge funds and other institutional investors own 5.98% of the company's stock.

Agrify Company Profile

Agrify Corporation offers hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. It 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.