Short Interest in Agrify Co. (NASDAQ:AGFY) Declines By 18.1%

Agrify Co. (NASDAQ:AGFY) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 11,300 shares, a decline of 18.1% from the April 30th total of 13,800 shares. Based on an average trading volume of 31,300 shares, the short-interest ratio is presently 0.4 days. Approximately 1.1% of the company’s stock are sold short.

Agrify Stock Performance

AGFY opened at $25.90 on Tuesday. Agrify has a 1-year low of $2.71 and a 1-year high of $84.44. The company has a market cap of $50.56 million, a price-to-earnings ratio of -1.85 and a beta of 10.16. The company’s fifty day moving average price is $20.96 and its two-hundred day moving average price is $25.09. The company has a current ratio of 0.75, a quick ratio of 0.10 and a debt-to-equity ratio of 0.80.

Agrify (NASDAQ:AGFY) last announced its quarterly earnings results on Friday, May 9th. The company reported ($1.68) earnings per share for the quarter. The company had revenue of $0.54 million for the quarter.

Insider Activity at Agrify

In other news, Director Timothy Mahoney sold 7,232 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $23.83, for a total transaction of $172,338.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Rslgh, Llc bought 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was purchased at an average price of $25.87 per share, for a total transaction of $188,851.00. Following the completion of the acquisition, the insider now owns 698,961 shares in the company, valued at $18,082,121.07. This represents a 1.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 22,264 shares of company stock worth $538,668 in the last quarter. Company insiders own 2.16% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AGFY. Marathon Partners Equity Management LLC bought a new position in Agrify during the 4th quarter valued at $174,000. AdvisorShares Investments LLC purchased a new stake in shares of Agrify in the fourth quarter valued at about $321,000. SG Capital Management LLC purchased a new stake in shares of Agrify in the fourth quarter valued at about $692,000. Renaissance Technologies LLC bought a new position in shares of Agrify during the fourth quarter valued at about $841,000. Finally, Rip Road Capital Partners LP purchased a new position in Agrify during the fourth quarter worth about $1,953,000. Hedge funds and other institutional investors own 5.98% of the company’s stock.

About Agrify

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.