Agrify (NASDAQ:AGFY) Trading Up 5.7% - Here's Why

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) shares were up 5.7% on Wednesday . The company traded as high as $29.37 and last traded at $29.37. Approximately 7,671 shares changed hands during trading, a decline of 43% from the average daily volume of 13,568 shares. The stock had previously closed at $27.78.

Agrify Trading Up 1.4%

The firm has a market capitalization of $61.85 million, a price-to-earnings ratio of -2.21 and a beta of 9.92. The business's 50-day simple moving average is $25.44 and its two-hundred day simple moving average is $22.64. The company has a quick ratio of 2.52, a current ratio of 2.64 and a debt-to-equity ratio of 1.43.

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

Insider Activity at Agrify

In related news, Director Timothy Mahoney sold 4,999 shares of Agrify stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $20.29, for a total value of $101,429.71. Following the completion of the transaction, the director owned 5,000 shares in the company, valued at approximately $101,450. The trade was a 49.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Krishnan Varier sold 5,836 shares of Agrify stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $25.50, for a total transaction of $148,818.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,836 shares of company stock worth $370,422. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Marathon Partners Equity Management LLC acquired a new position in shares of Agrify in the fourth quarter valued at approximately $174,000. Rip Road Capital Partners LP grew its holdings in shares of Agrify by 15.6% in the first quarter. Rip Road Capital Partners LP now owns 77,911 shares of the company's stock valued at $1,367,000 after purchasing an additional 10,528 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Agrify in the fourth quarter valued at approximately $321,000. SG Capital Management LLC acquired a new position in shares of Agrify in the fourth quarter valued at approximately $692,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Agrify in the fourth quarter valued at approximately $841,000. Institutional investors and hedge funds 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.