RYTHM (NASDAQ:RYM) Shares Up 2% - What's Next?

Key Points

• RYTHM shares rose 2% to $23.43 in Tuesday trading, reaching $24.17 intraday, while volume fell 34% below the average.
• Analyst sentiment remains weak: RYTHM carries an average “Sell” rating, despite Wall Street Zen upgrading the stock to “Hold.”
• The company reported $23.02 million in quarterly revenue and $0.09 EPS, but continues to post a negative net margin and return on equity; two directors also recently sold shares.

RYTHM, Inc. (NASDAQ:RYM - Get Free Report)'s stock price shot up 2% during trading on Tuesday . The company traded as high as $24.17 and last traded at $23.43. 8,147 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 12,310 shares. The stock had previously closed at $22.96.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of RYTHM from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings restated a "sell (d-)" rating on shares of RYTHM in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, RYTHM presently has an average rating of "Sell".

RYTHM Price Performance

The stock has a market cap of $51.08 million, a P/E ratio of -2.23 and a beta of 9.47. The company has a fifty day moving average price of $22.79 and a 200 day moving average price of $22.87.

RYTHM (NASDAQ:RYM - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter. RYTHM had a negative return on equity of 12.57% and a negative net margin of 6.20%.The company had revenue of $23.02 million for the quarter.

Insider Buying and Selling at RYTHM

In other news, Director Max Holtzman sold 5,000 shares of RYTHM stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $26.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at $130,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Armon Vakili sold 2,250 shares of RYTHM stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $26.52, for a total transaction of $59,670.00. Following the transaction, the director owned 10,850 shares of the company's stock, valued at $287,742. This represents a 17.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 3.48% of the company's stock.

Hedge Funds Weigh In On RYTHM

Several large investors have recently added to or reduced their stakes in RYM. Jane Street Group LLC acquired a new position in RYTHM during the 4th quarter valued at about $213,000. Geode Capital Management LLC purchased a new stake in shares of RYTHM in the fourth quarter worth approximately $293,000. Finally, Concurrent Investment Advisors LLC raised its stake in shares of RYTHM by 95.2% in the second quarter. Concurrent Investment Advisors LLC now owns 22,100 shares of the company's stock worth $563,000 after purchasing an additional 10,779 shares during the last quarter. Institutional investors own 5.98% of the company's stock.

RYTHM Company Profile

Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company 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. It also provides associated services comprising consulting, engineering, and construction.

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