Armon Vakili Sells 2,250 Shares of RYTHM (NASDAQ:RYM) Stock

RYTHM, Inc. (NASDAQ:RYM) Director Armon Vakili sold 2,250 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $26.52, for a total value of $59,670.00. Following the completion of the transaction, the director directly owned 10,850 shares of the company’s stock, valued at approximately $287,742. This trade represents a 17.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

RYTHM Stock Performance

RYM opened at $27.98 on Friday. The company’s 50-day simple moving average is $27.09 and its two-hundred day simple moving average is $22.38. The stock has a market capitalization of $60.16 million, a P/E ratio of -1.95 and a beta of 9.46. RYTHM, Inc. has a 52-week low of $14.00 and a 52-week high of $53.65.

RYTHM (NASDAQ:RYM) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.33 EPS for the quarter. RYTHM had a negative net margin of 38.99% and a negative return on equity of 56.12%. The firm had revenue of $13.29 million during the quarter.

Wall Street Analysts Forecast Growth

RYM has been the subject of a number of research analyst reports. Wall Street Zen raised shares of RYTHM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised RYTHM from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, RYTHM currently has an average rating of “Sell”.

Hedge Funds Weigh In On RYTHM

An institutional investor recently bought a new position in RYTHM stock. Geode Capital Management LLC acquired a new position in RYTHM, Inc. (NASDAQ:RYM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 quarter. 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.