Forafric Global (NASDAQ:AFRI) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Forafric Global (NASDAQ:AFRI) has been given a "sell (D-)" rating by Weiss Ratings, indicating potential concerns about its stock performance.
• Shares of Forafric Global increased by 4.5% on Friday, trading at $9.39, despite having significant volatility with a 12-month low of $7.47 and a high of $11.20.
• Institutional investors have shown renewed interest in Forafric Global, with notable increases in stakes from firms such as Bank of America and PNC Financial Services, among others.

Forafric Global (NASDAQ:AFRI - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Forafric Global Trading Up 4.5%

Shares of NASDAQ:AFRI traded up $0.41 during trading on Friday, hitting $9.39. The stock had a trading volume of 372 shares, compared to its average volume of 13,662. Forafric Global has a 12-month low of $7.47 and a 12-month high of $11.20. The stock has a 50-day simple moving average of $8.58 and a two-hundred day simple moving average of $8.16.

Institutional Investors Weigh In On Forafric Global

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in 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 purchasing an additional 5,143 shares in the last quarter. Russell Investments Group Ltd. boosted 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 acquiring an additional 8,974 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Forafric Global during the first quarter worth $87,000. Sei Investments Co. bought a new position in shares of Forafric Global in the 2nd quarter valued at about $78,000. Finally, PNC Financial Services Group Inc. grew its stake in Forafric Global by 2,854.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,263 shares of the company's stock valued at $49,000 after buying an additional 6,051 shares during the last quarter. 5.49% of the stock is currently owned by institutional investors and hedge funds.

Forafric Global Company Profile

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.

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