Forafric Global (NASDAQ:AFRI) Stock Price Down 1.3% - What's Next?

Key Points

• Forafric Global's stock fell 1.3% to $8.66, with trading volumes declining by 20% from the average session.
• Institutional investors now hold 5.49% of the company's stock, with notable increases in positions from Northern Trust and JPMorgan Chase.
• Forafric Global engages in the processing and sale of agricultural commodities in several countries, including Morocco and Angola, focusing on products like wheat flour and pasta.

Shares of Forafric Global PLC (NASDAQ:AFRI - Get Free Report) dropped 1.3% during trading on Thursday . The company traded as low as $8.42 and last traded at $8.66. Approximately 10,571 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 13,229 shares. The stock had previously closed at $8.77.

Forafric Global Price Performance

The company has a quick ratio of 0.30, a current ratio of 0.37 and a debt-to-equity ratio of 3.92. The stock's 50 day simple moving average is $7.90 and its 200 day simple moving average is $8.21.

Institutional Investors Weigh In On Forafric Global

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in shares of Forafric Global in the 4th quarter valued at $28,000. PNC Financial Services Group Inc. boosted its position in Forafric Global by 2,854.2% during 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 period. Sei Investments Co. purchased a new stake in Forafric Global during the 2nd quarter valued at $78,000. Bank of New York Mellon Corp purchased a new stake in Forafric Global during the 1st quarter valued at $87,000. Finally, Russell Investments Group Ltd. boosted its position in Forafric Global by 197.1% during the 2nd quarter. Russell Investments Group Ltd. now owns 13,527 shares of the company's stock valued at $106,000 after buying an additional 8,974 shares during the period. Hedge funds and other institutional investors own 5.49% of the company's stock.

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.