Wall Street Zen Downgrades AFC Gamma (NASDAQ:AFCG) to Buy

Key Points

• Wall Street Zen downgraded AFC Gamma from “strong-buy” to “buy,” while other analysts offered mixed views. MarketBeat data shows an average rating of “Reduce” and an average price target of $4.50.
• AFC Gamma shares opened at $2.69, with a 52-week range of $2.06 to $5.10 and a market capitalization of approximately $63.3 million.
• Director Leonard M. Tannenbaum purchased 90,600 shares at an average price of $2.84, increasing his stake by 1.41%; corporate insiders own 30.70% of the company.

AFC Gamma (NASDAQ:AFCG - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts also recently weighed in on the company. Zacks Research upgraded AFC Gamma from a "strong sell" rating to a "hold" rating in a research note on Monday, April 20th. Weiss Ratings reiterated a "sell (d)" rating on shares of AFC Gamma in a research note on Friday, July 17th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $4.50.

AFC Gamma Price Performance

NASDAQ:AFCG opened at $2.69 on Friday. AFC Gamma has a 52-week low of $2.06 and a 52-week high of $5.10. The company has a market cap of $63.30 million, a P/E ratio of -4.20 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 1.41. The stock's 50-day simple moving average is $3.15 and its 200 day simple moving average is $2.82.

Insider Transactions at AFC Gamma

In other AFC Gamma news, Director Leonard M. Tannenbaum acquired 90,600 shares of the business's stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of $2.84 per share, with a total value of $257,304.00. Following the completion of the transaction, the director directly owned 6,516,775 shares in the company, valued at approximately $18,507,641. This represents a 1.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 30.70% of the stock is owned by corporate insiders.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company's primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.

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