Agrify Co. (NASDAQ:AGFY) Sees Significant Growth in Short Interest

Agrify Co. (NASDAQ:AGFY) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 126,300 shares, an increase of 360.9% from the October 31st total of 27,400 shares. Based on an average daily volume of 507,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 39.7% of the company’s stock are short sold.

Insider Transactions at Agrify

In other news, CEO Benjamin Kovler purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average cost of $45.89 per share, with a total value of $229,450.00. Following the completion of the transaction, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $688,350. This trade represents a 50.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 51.00% of the company’s stock.

Agrify Stock Performance

Shares of Agrify stock traded down $8.16 during mid-day trading on Wednesday, hitting $54.55. 704,524 shares of the stock were exchanged, compared to its average volume of 321,308. Agrify has a 12 month low of $2.71 and a 12 month high of $84.44. The company has a 50-day simple moving average of $9.13 and a 200 day simple moving average of $6.10. The company has a market capitalization of $83.46 million, a P/E ratio of -3.89 and a beta of 2.04. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.10 and a current ratio of 0.75.

Agrify Company Profile

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.