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

Agrify Co. (NASDAQ:AGFY) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 16,900 shares, an increase of 49.6% from the May 15th total of 11,300 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 31,400 shares, the short-interest ratio is presently 0.5 days.

Agrify Stock Up 6.2%

Shares of AGFY traded up $1.49 during trading hours on Tuesday, reaching $25.28. 3,829 shares of the stock traded hands, compared to its average volume of 244,540. Agrify has a 52 week low of $2.71 and a 52 week high of $84.44. The company has a market cap of $49.34 million, a price-to-earnings ratio of -1.80 and a beta of 10.23. The stock has a fifty day simple moving average of $22.50 and a 200 day simple moving average of $23.84. The company has a current ratio of 0.75, a quick ratio of 0.10 and a debt-to-equity ratio of 0.80.

Agrify (NASDAQ:AGFY) last released its earnings results on Friday, May 9th. The company reported ($1.68) EPS for the quarter. The company had revenue of $0.54 million for the quarter.

Insider Activity at Agrify

In related news, Director Max Holtzman sold 7,096 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $23.05, for a total value of $163,562.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Krishnan Varier sold 5,836 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.50, for a total transaction of $148,818.00. The disclosure for this sale can be found here. Insiders sold a total of 27,264 shares of company stock valued at $658,818 in the last quarter. Insiders own 2.16% of the company’s stock.

Institutional Trading of Agrify

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

About Agrify

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.