Zacks Research Upgrades AFC Gamma (NASDAQ:AFCG) to Hold

AFC Gamma (NASDAQ:AFCG - Get Free Report) was upgraded by investment analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of AFC Gamma in a research report on Monday. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $4.50.

AFC Gamma Stock Performance

AFCG opened at $2.80 on Monday. The stock has a market cap of $65.88 million, a PE ratio of -2.95 and a beta of 0.84. The company has a current ratio of 3.45, a quick ratio of 3.45 and a debt-to-equity ratio of 0.12. AFC Gamma has a 1 year low of $2.06 and a 1 year high of $5.87. The stock's 50 day simple moving average is $2.56 and its 200-day simple moving average is $2.80.

AFC Gamma (NASDAQ:AFCG - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.06 by ($0.18). The firm had revenue of $9.07 million for the quarter, compared to the consensus estimate of $5.36 million. AFC Gamma had a negative net margin of 70.17% and a positive return on equity of 0.99%. Sell-side analysts forecast that AFC Gamma will post 0.49 EPS for the current year.

Insiders Place Their Bets

In related news, Director Leonard M. Tannenbaum purchased 44,914 shares of the stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $2.59 per share, for a total transaction of $116,327.26. Following the completion of the transaction, the director directly owned 6,373,106 shares of the company's stock, valued at approximately $16,506,344.54. The trade was a 0.71% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 519,008 shares of company stock valued at $1,331,588 in the last quarter. Corporate insiders own 25.10% of the company's stock.

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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