Short Interest in Agrify Corporation (NASDAQ:AGFY) Increases By 72.1%

Key Points

• Short interest in Agrify Corporation increased by 72.1% in August, reaching a total of 29,600 shares, which represents 2.9% of the company's stock.
• Insider transactions included significant sales by directors, with the total insider ownership dropping to 2.16% after 10,000 shares were sold in the last 90 days.
• Agrify reported a quarterly loss of ($3.66) earnings per share, highlighting its financial struggles with a negative net margin of 424.11%.

Agrify Corporation (NASDAQ:AGFY - Get Free Report) was the target of a large growth in short interest in the month of August. As of August 15th, there was short interest totaling 29,600 shares, a growth of 72.1% from the July 31st total of 17,200 shares. Based on an average daily volume of 17,900 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.9% of the company's stock are sold short. Approximately 2.9% of the company's stock are sold short. Based on an average daily volume of 17,900 shares, the days-to-cover ratio is presently 1.7 days.

Insider Activity

In related news, Director Timothy Mahoney sold 4,999 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $20.29, for a total value of $101,429.71. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $101,450. The trade was a 49.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.16% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rip Road Capital Partners LP grew its holdings in shares of Agrify by 15.6% during the 1st quarter. Rip Road Capital Partners LP now owns 77,911 shares of the company's stock worth $1,367,000 after purchasing an additional 10,528 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Agrify during the 4th quarter worth $692,000. Finally, Marathon Partners Equity Management LLC acquired a new stake in shares of Agrify during the 4th quarter worth $174,000. 5.98% of the stock is owned by institutional investors and hedge funds.

Agrify Stock Up 1.2%

NASDAQ AGFY traded up $0.48 during trading on Thursday, hitting $39.86. The stock had a trading volume of 24,683 shares, compared to its average volume of 31,467. Agrify has a 12 month low of $2.71 and a 12 month high of $84.44. The company has a market capitalization of $79.84 million, a PE ratio of -2.85 and a beta of 9.96. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.52 and a current ratio of 2.64. The company's 50-day moving average price is $29.92 and its two-hundred day moving average price is $24.04.

Agrify (NASDAQ:AGFY - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($3.66) earnings per share (EPS) for the quarter. The company had revenue of $2.04 million for the quarter. Agrify had a negative return on equity of 185.90% and a negative net margin of 424.11%.

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.