RYTHM (NASDAQ:RYM) Trading 9% Higher – Still a Buy?

RYTHM, Inc. (NASDAQ:RYM)’s share price shot up 9% during mid-day trading on Friday . The stock traded as high as $18.99 and last traded at $18.99. 2,134 shares were traded during trading, a decline of 69% from the average session volume of 6,901 shares. The stock had previously closed at $17.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RYM shares. Wall Street Zen downgraded shares of RYTHM from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “sell (d-)” rating on shares of RYTHM in a report on Monday, December 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, RYTHM presently has a consensus rating of “Sell”.

RYTHM Stock Up 9.0%

The business’s 50-day simple moving average is $17.42. The firm has a market cap of $40.83 million, a P/E ratio of -1.15 and a beta of 9.86. The company has a current ratio of 1.11, a quick ratio of 1.01 and a debt-to-equity ratio of 3.84.

RYTHM (NASDAQ:RYM) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($6.62) earnings per share for the quarter. The business had revenue of $10.66 million for the quarter. RYTHM had a negative return on equity of 191.60% and a negative net margin of 192.43%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RYTHM stock. Geode Capital Management LLC purchased a new stake in shares of RYTHM, Inc. (NASDAQ:RYM) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 13,729 shares of the company’s stock, valued at approximately $293,000. Geode Capital Management LLC owned about 0.64% of RYTHM at the end of the most recent reporting period. Institutional investors own 5.98% of the company’s stock.

About RYTHM

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.