Agrify (NASDAQ:AGFY) Stock Price Up 5.7% – Should You Buy?

Agrify Corporation (NASDAQ:AGFY) shares rose 5.7% during trading on Wednesday . The stock traded as high as $29.37 and last traded at $29.37. Approximately 7,671 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 13,568 shares. The stock had previously closed at $27.78.

Agrify Trading Up 5.7%

The company has a market cap of $58.74 million, a price-to-earnings ratio of -2.10 and a beta of 9.92. The firm has a 50-day moving average price of $25.03 and a 200 day moving average price of $22.45. The company has a current ratio of 2.64, a quick ratio of 2.52 and a debt-to-equity ratio of 1.43.

Agrify (NASDAQ:AGFY) last issued its earnings results on Friday, August 8th. The company reported ($3.66) EPS for the quarter. The firm had revenue of $2.04 million during the quarter. Agrify had a negative return on equity of 185.90% and a negative net margin of 424.11%.

Insider Transactions at Agrify

In other news, Director Krishnan Varier sold 5,836 shares of Agrify stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.50, for a total value of $148,818.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Max Holtzman sold 7,096 shares of Agrify stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $23.05, for a total value of $163,562.80. The disclosure for this sale can be found here. Insiders have sold a total of 32,264 shares of company stock worth $760,272 in the last quarter. Insiders own 2.16% of the company’s stock.

Institutional Trading of Agrify

Several hedge funds have recently made changes to their positions in AGFY. Rip Road Capital Partners LP bought a new stake in shares of Agrify in the 4th quarter worth approximately $1,953,000. Renaissance Technologies LLC bought a new stake in shares of Agrify in the 4th quarter worth approximately $841,000. SG Capital Management LLC bought a new stake in shares of Agrify in the 4th quarter worth approximately $692,000. AdvisorShares Investments LLC bought a new stake in shares of Agrify in the 4th quarter worth approximately $321,000. Finally, Marathon Partners Equity Management LLC bought a new stake in shares of Agrify in the 4th quarter worth approximately $174,000. 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.