Forafric Global (NASDAQ:AFRI) Shares Up 2.8% - What's Next?

Key Points

• Forafric Global's stock rose 2.8% to $8.90 on Friday, despite a significant decline in trading volume, down 74% from its average daily volume.
• The company has a high debt-to-equity ratio of 3.92 and low liquidity ratios, with a quick ratio of 0.30 and a current ratio of 0.37.
• Institutional investors have shown increased interest, with notable stakes acquired by firms like PNC Financial Services Group Inc. and Russell Investments Group Ltd., boosting their holdings significantly in recent quarters.

Forafric Global PLC (NASDAQ:AFRI - )'s stock price rose 2.8% during trading on Friday . The stock traded as high as $8.90 and last traded at $8.90. Approximately 3,296 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 12,882 shares. The stock had previously closed at $8.66.

Forafric Global Stock 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 company's 50 day moving average price is $8.22 and its 200 day moving average price is $8.14.

Institutional Investors Weigh In On Forafric Global

Several institutional investors and hedge funds have recently made changes to their positions in AFRI. Bank of New York Mellon Corp acquired a new stake in shares of Forafric Global in the 1st quarter valued at $87,000. Sei Investments Co. acquired a new stake in shares of Forafric Global in the 2nd quarter valued at $78,000. Russell Investments Group Ltd. boosted its stake in shares of Forafric Global by 197.1% in the 2nd 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. Northern Trust Corp boosted its stake in shares of Forafric Global by 18.4% in the 4th quarter. Northern Trust Corp now owns 48,133 shares of the company's stock valued at $493,000 after purchasing an additional 7,479 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 purchasing an additional 6,051 shares in the last quarter. Institutional investors and hedge funds 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.

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