AFC Gamma, Inc. (NASDAQ:AFCG) Sees Significant Increase in Short Interest

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 700,500 shares, a growth of 69.0% from the January 15th total of 414,400 shares. Based on an average trading volume of 177,200 shares, the short-interest ratio is presently 4.0 days. Currently, 4.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AFCG. JMP Securities restated a “market perform” rating on shares of AFC Gamma in a report on Thursday, January 23rd. Alliance Global Partners initiated coverage on shares of AFC Gamma in a research report on Tuesday, December 17th. They issued a “buy” rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Investors Weigh In On AFC Gamma

Large investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC increased its position in shares of AFC Gamma by 19.7% during the third quarter. Tidal Investments LLC now owns 519,610 shares of the company’s stock worth $5,305,000 after acquiring an additional 85,655 shares during the period. Charles Schwab Investment Management Inc. grew its stake in AFC Gamma by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,403 shares of the company’s stock worth $515,000 after purchasing an additional 2,200 shares in the last quarter. State Street Corp increased its holdings in AFC Gamma by 2.8% during the 3rd quarter. State Street Corp now owns 376,611 shares of the company’s stock worth $3,968,000 after purchasing an additional 10,320 shares during the period. Geode Capital Management LLC raised its position in AFC Gamma by 57.8% during the 3rd quarter. Geode Capital Management LLC now owns 24,225 shares of the company’s stock valued at $248,000 after purchasing an additional 8,877 shares in the last quarter. Finally, Barclays PLC raised its position in AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after purchasing an additional 16,245 shares in the last quarter. 26.53% of the stock is owned by hedge funds and other institutional investors.

AFC Gamma Stock Performance

AFCG stock opened at $8.72 on Friday. AFC Gamma has a twelve month low of $7.94 and a twelve month high of $13.28. The firm has a market cap of $191.40 million, a price-to-earnings ratio of 21.80 and a beta of 1.05. The business’s fifty day simple moving average is $8.63 and its two-hundred day simple moving average is $9.46. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

AFC Gamma Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 15.14%. The ex-dividend date of this dividend was Tuesday, December 31st. AFC Gamma’s dividend payout ratio is presently 330.00%.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.