Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company 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. It also provides associated services comprising consulting, engineering, and construction. The company was formerly known as Agrinamics, Inc. and changed its name to Agrify Corporation in September 2019. Agrify Corporation was incorporated in 2016 and is headquartered in Billerica, Massachusetts.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the company. Alliance Global Partners decreased their target price on Agrify from $15.00 to $11.00 in a research note on Thursday, May 12th. Roth Capital cut Agrify from a "buy" rating to a "neutral" rating in a research note on Tuesday.
Agrify Stock Performance
Shares of NASDAQ:AGFY traded down $0.06 during midday trading on Wednesday, reaching $1.32. 3,605 shares of the company traded hands, compared to its average volume of 605,935. The company has a quick ratio of 2.59, a current ratio of 3.52 and a debt-to-equity ratio of 0.30. Agrify has a 12 month low of $1.26 and a 12 month high of $35.94. The firm has a market capitalization of $35.10 million, a price-to-earnings ratio of -0.28 and a beta of 1.69. The firm's fifty day moving average price is $1.82 and its two-hundred day moving average price is $3.49.
Agrify (NASDAQ:AGFY - Get Rating) last posted its quarterly earnings data on Monday, August 15th. The company reported ($3.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($3.08). Agrify had a negative return on equity of 30.14% and a negative net margin of 145.07%. During the same period in the previous year, the firm earned ($0.28) earnings per share. On average, equities analysts expect that Agrify will post -1.01 earnings per share for the current year.