Short Interest in Agrify Co. (NASDAQ:AGFY) Rises By 49.6%

Agrify Co. (NASDAQ:AGFY - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 16,900 shares, a growth of 49.6% from the May 15th total of 11,300 shares. Based on an average daily trading volume, of 31,400 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.6% of the shares of the stock are sold short.

Insider Buying and Selling

In related news, major shareholder Rslgh, Llc purchased 7,300 shares of Agrify stock in a transaction that occurred on Wednesday, May 28th. The shares were acquired at an average price of $25.87 per share, with a total value of $188,851.00. Following the completion of the transaction, the insider now directly owns 698,961 shares of the company's stock, valued at $18,082,121.07. This represents a 1.06% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Krishnan Varier sold 5,836 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.50, for a total value of $148,818.00. The disclosure for this sale can be found here. Insiders have sold 27,264 shares of company stock valued at $658,818 over the last 90 days. 2.16% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new position in Agrify during the 4th quarter worth $841,000. Rip Road Capital Partners LP bought a new position in Agrify during the 4th quarter worth $1,953,000. SG Capital Management LLC bought a new position in Agrify during the 4th quarter worth $692,000. AdvisorShares Investments LLC bought a new position in Agrify during the 4th quarter worth $321,000. Finally, Marathon Partners Equity Management LLC bought a new position in Agrify during the 4th quarter worth $174,000. 5.98% of the stock is owned by institutional investors.

Agrify Trading Up 5.4%

Shares of AGFY stock opened at $26.00 on Monday. Agrify has a fifty-two week low of $2.71 and a fifty-two week high of $84.44. The company has a market cap of $50.75 million, a PE ratio of -1.86 and a beta of 10.23. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.10 and a current ratio of 0.75. The stock's fifty day moving average price is $22.39 and its two-hundred day moving average price is $24.07.

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

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.

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