AFC Gamma (NASDAQ:AFCG) Shares Down 2.7% – Here’s Why

AFC Gamma Inc. (NASDAQ:AFCG)’s stock price traded down 2.7% during mid-day trading on Monday . The stock traded as low as $2.17 and last traded at $2.20. 158,352 shares were traded during mid-day trading, a decline of 27% from the average session volume of 217,103 shares. The stock had previously closed at $2.26.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AFCG shares. Weiss Ratings reissued a “sell (d)” rating on shares of AFC Gamma in a report on Wednesday, January 21st. Zacks Research raised shares of AFC Gamma to a “hold” rating in a research report on Thursday, November 13th. Three 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 $5.75.

AFC Gamma Price Performance

The firm has a market capitalization of $49.70 million, a price-to-earnings ratio of -2.12 and a beta of 1.02. The company’s 50 day moving average is $2.57 and its 200 day moving average is $3.30. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.13.

Insider Activity

In other AFC Gamma news, Director Leonard M. Tannenbaum bought 46,000 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $2.94 per share, with a total value of $135,240.00. Following the completion of the acquisition, the director owned 5,792,098 shares of the company’s stock, valued at $17,028,768.12. This trade represents a 0.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last quarter, insiders have purchased 169,000 shares of company stock worth $495,140. Corporate insiders own 25.10% of the company’s stock.

AFC Gamma Company Profile

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.