Agrify (NASDAQ:AGFY) Stock Price Up 11.6% – Time to Buy?

Shares of Agrify Co. (NASDAQ:AGFY) rose 11.6% during mid-day trading on Wednesday . The company traded as high as $21.70 and last traded at $21.00. Approximately 14,576 shares were traded during trading, a decline of 50% from the average daily volume of 29,132 shares. The stock had previously closed at $18.82.

Agrify Price Performance

The firm has a 50 day moving average price of $25.64 and a 200 day moving average price of $17.26. The stock has a market capitalization of $32.13 million, a PE ratio of -1.50 and a beta of 10.36. The company has a current ratio of 0.75, a quick ratio of 0.10 and a debt-to-equity ratio of 0.80.

Insiders Place Their Bets

In other Agrify news, Director Max Holtzman sold 1,097 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.71, for a total value of $45,755.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David Aaron Kessler sold 13,598 shares of Agrify stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $37.44, for a total transaction of $509,109.12. The disclosure for this sale can be found here. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Agrify

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

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.