Short Interest in Agrify Co. (NASDAQ:AGFY) Declines By 18.1%

Agrify Co. (NASDAQ:AGFY - Get Free Report) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 11,300 shares, a drop of 18.1% from the April 30th total of 13,800 shares. Based on an average daily trading volume, of 31,300 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.1% of the shares of the company are sold short.

Insider Buying and Selling

In other Agrify news, Director Timothy Mahoney sold 7,232 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $23.83, for a total transaction of $172,338.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Rslgh, Llc acquired 25,000 shares of the stock in a transaction dated Tuesday, May 27th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $625,000.00. Following the completion of the transaction, the insider now directly owns 691,661 shares of the company's stock, valued at approximately $17,291,525. This represents a 3.75% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 22,264 shares of company stock valued at $538,668. 2.16% of the stock is owned by insiders.

Institutional Trading of Agrify

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marathon Partners Equity Management LLC bought a new position in shares of Agrify during the 4th quarter valued at about $174,000. AdvisorShares Investments LLC bought a new position in Agrify during the fourth quarter valued at approximately $321,000. SG Capital Management LLC purchased a new position in Agrify during the 4th quarter valued at approximately $692,000. Renaissance Technologies LLC purchased a new position in Agrify during the 4th quarter valued at approximately $841,000. Finally, Rip Road Capital Partners LP increased its stake in Agrify by 15.6% in the 1st quarter. Rip Road Capital Partners LP now owns 77,911 shares of the company's stock worth $1,367,000 after acquiring an additional 10,528 shares during the last quarter. 5.98% of the stock is currently owned by institutional investors.

Agrify Price Performance

AGFY traded up $0.53 on Friday, hitting $26.58. 3,708 shares of the company's stock traded hands, compared to its average volume of 245,025. The company's 50 day simple moving average is $21.48 and its 200-day simple moving average is $25.17. The company has a current ratio of 0.75, a quick ratio of 0.10 and a debt-to-equity ratio of 0.80. Agrify has a one year low of $2.71 and a one year high of $84.44. The firm has a market cap of $51.88 million, a price-to-earnings ratio of -1.90 and a beta of 10.23.

Agrify (NASDAQ:AGFY - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported ($1.68) earnings per share (EPS) for the quarter. The firm had revenue of $0.54 million for the quarter.

Agrify Company Profile

Agrify Corporation offers hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. It 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.