RYTHM (NASDAQ:RYM) Shares Up 7.8% - What's Next?

Key Points

• Shares rose 7.8% intraday to as high as $27.50 and last traded at $27.06 on volume of 27,263 shares, about 26% above the average session volume.
• Analyst sentiment is negative: MarketBeat shows a consensus "Sell" rating, with recent downgrades from Weiss Ratings (sell, D-) and Wall Street Zen.
• RYM is a small, volatile company with a market cap of $58.18 million, a negative P/E (-1.64), high leverage (debt/equity 3.84) and a beta of 9.82, though Geode Capital recently acquired a ~0.64% stake (~13,729 shares).

RYTHM, Inc. (NASDAQ:RYM - Get Free Report)'s stock price shot up 7.8% during mid-day trading on Monday . The company traded as high as $27.50 and last traded at $27.06. 27,263 shares traded hands during mid-day trading, an increase of 26% from the average session volume of 21,676 shares. The stock had previously closed at $25.10.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RYM. Weiss Ratings reissued a "sell (d-)" rating on shares of RYTHM in a research report on Friday, April 10th. Wall Street Zen downgraded RYTHM from a "hold" rating to a "sell" rating in a research report on Saturday, January 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, RYTHM presently has a consensus rating of "Sell".

RYTHM Stock Performance

The company has a market capitalization of $58.18 million, a PE ratio of -1.64 and a beta of 9.82. The company has a quick ratio of 1.01, a current ratio of 1.11 and a debt-to-equity ratio of 3.84. The company has a 50-day moving average price of $19.73 and a two-hundred day moving average price of $24.40.

Hedge Funds Weigh In On RYTHM

A hedge fund recently bought a new stake in RYTHM stock. Geode Capital Management LLC purchased a new stake in RYTHM, Inc. (NASDAQ:RYM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,729 shares of the company's stock, valued at approximately $293,000. Geode Capital Management LLC owned approximately 0.64% of RYTHM as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.98% of the company's stock.

About RYTHM

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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