Forafric Global (NASDAQ:AFRI) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Forafric Global (NASDAQ:AFRI) has received a "sell (D-)" rating from Weiss Ratings, indicating concerns about the company's current stock performance.
• Shares are trading at $8.58 and have shown minimal activity, with a six-month price range between $7.47 and $11.20.
• Institutional investors have made significant moves, with PNC Financial increasing its stake by 2,854.2% during the second quarter, highlighting growing interest despite the rating downgrade.

Forafric Global (NASDAQ:AFRI - Get Free Report)'s stock had its "sell (d-)" rating restated by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Forafric Global Stock Performance

Shares of AFRI stock remained flat at $8.58 on Wednesday. The stock had a trading volume of 2,335 shares, compared to its average volume of 14,163. Forafric Global has a twelve month low of $7.47 and a twelve month high of $11.20. The company has a 50-day moving average of $8.35 and a 200 day moving average of $8.14.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in Forafric Global by 2,854.2% in the second quarter. PNC Financial Services Group Inc. now owns 6,263 shares of the company's stock valued at $49,000 after purchasing an additional 6,051 shares in the last quarter. Sei Investments Co. purchased a new position in Forafric Global in the second quarter valued at about $78,000. Bank of New York Mellon Corp purchased a new position in Forafric Global in the first quarter valued at about $87,000. Russell Investments Group Ltd. grew its stake in Forafric Global by 197.1% in the second quarter. Russell Investments Group Ltd. now owns 13,527 shares of the company's stock valued at $106,000 after purchasing an additional 8,974 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Forafric Global by 28.6% in the second quarter. Bank of America Corp DE now owns 23,129 shares of the company's stock worth $180,000 after buying an additional 5,143 shares during the last quarter. Hedge funds and other institutional investors own 5.49% of the company's stock.

About Forafric Global

Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco, Burkina, Mali, Angola, and internationally. The company provides wheat flours and semolina; and secondary processing products, such as pasta and couscous under the TRIA and MayMouna brand names.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.