Agrify Corporation (NASDAQ:AGFY) Short Interest Update

Agrify Corporation (NASDAQ:AGFY - Get Free Report) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 16,900 shares, an increase of 49.6% from the May 15th total of 11,300 shares. Based on an average daily volume of 31,400 shares, the short-interest ratio is currently 0.5 days. Approximately 1.6% of the shares of the company are short sold.

Agrify Trading Down 5.7%

Agrify stock traded down $1.37 during midday trading on Thursday, reaching $22.82. 19,897 shares of the stock traded hands, compared to its average volume of 245,524. The firm has a fifty day moving average price of $22.73 and a two-hundred day moving average price of $23.84. Agrify has a fifty-two week low of $2.71 and a fifty-two week high of $84.44. The firm has a market cap of $44.54 million, a price-to-earnings ratio of -1.63 and a beta of 10.23.

Agrify (NASDAQ:AGFY - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported ($1.68) earnings per share (EPS) for the quarter. Agrify had a negative return on equity of 189.00% and a negative net margin of 463.83%. The business had revenue of $0.54 million for the quarter.

Insider Buying and Selling

In other news, Director Max Holtzman sold 7,096 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $23.05, for a total transaction of $163,562.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Krishnan Varier sold 5,836 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $25.50, for a total transaction of $148,818.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,264 shares of company stock valued at $658,818. Insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Rip Road Capital Partners LP raised its stake in shares of Agrify by 15.6% during the first quarter. Rip Road Capital Partners LP now owns 77,911 shares of the company's stock valued at $1,367,000 after purchasing an additional 10,528 shares in the last quarter. SG Capital Management LLC acquired a new position in Agrify during the 4th quarter valued at about $692,000. Marathon Partners Equity Management LLC bought a new stake in shares of Agrify during the 4th quarter worth about $174,000. AdvisorShares Investments LLC bought a new stake in shares of Agrify during the 4th quarter worth about $321,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Agrify in the 4th quarter worth approximately $841,000. Institutional investors and hedge funds own 5.98% of the company's stock.

About Agrify

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.