Equities Analysts Offer Predictions for Agrify Co.’s FY2024 Earnings (NASDAQ:AGFY)

Agrify Co. (NASDAQ:AGFYGet Rating) – Stock analysts at Alliance Global Partners issued their FY2024 earnings per share (EPS) estimates for shares of Agrify in a research report issued to clients and investors on Thursday, November 10th. Alliance Global Partners analyst A. Grey forecasts that the company will post earnings of ($0.73) per share for the year. Alliance Global Partners has a “Neutral” rating on the stock. The consensus estimate for Agrify’s current full-year earnings is ($16.11) per share.

A number of other research analysts also recently weighed in on AGFY. Roth Capital dropped their price target on Agrify to $1.75 in a research note on Tuesday, November 1st. Maxim Group decreased their price target on Agrify from $40.00 to $3.00 in a research report on Thursday.

Agrify Stock Up 25.2 %

Shares of Agrify stock opened at $1.14 on Friday. Agrify has a one year low of $0.78 and a one year high of $235.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.57 and a quick ratio of 1.66. The stock’s 50-day moving average is $5.07 and its 200 day moving average is $14.59. The firm has a market cap of $3.04 million, a price-to-earnings ratio of -0.02 and a beta of 1.38.

Agrify (NASDAQ:AGFYGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($8.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.10) by ($5.70). Agrify had a negative return on equity of 55.56% and a negative net margin of 208.40%. The firm had revenue of $19.33 million during the quarter. During the same period in the previous year, the firm posted ($2.80) earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Agrify by 1.5% in the first quarter. BlackRock Inc. now owns 307,063 shares of the company’s stock worth $1,421,000 after purchasing an additional 4,533 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Agrify by 122.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,139 shares of the company’s stock worth $32,000 after purchasing an additional 8,886 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of Agrify by 5.0% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 276,232 shares of the company’s stock worth $544,000 after purchasing an additional 13,246 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Agrify in the 2nd quarter worth approximately $29,000. Finally, Vident Investment Advisory LLC raised its holdings in Agrify by 72.3% in the 1st quarter. Vident Investment Advisory LLC now owns 43,337 shares of the company’s stock worth $201,000 after acquiring an additional 18,178 shares during the last quarter. Hedge funds and other institutional investors own 33.46% of the company’s stock.

About Agrify

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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.

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Earnings History and Estimates for Agrify (NASDAQ:AGFY)

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