AGI (NYSE:AGBK) Stock Jumps 8% – What’s Next?

AGI Inc (NYSE:AGBK) shares traded up 8% during mid-day trading on Tuesday. The stock traded as high as $7.72 and last traded at $7.67. Approximately 134,355 shares traded hands during trading, a decline of 69% from the average session volume of 428,611 shares. The stock had previously closed at $7.10.

Analyst Ratings Changes

AGBK has been the topic of several recent analyst reports. Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Oppenheimer lowered their price target on AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group set a $13.00 price objective on AGI in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $14.14.

AGI Price Performance

The stock has a market cap of $1.17 billion and a P/E ratio of 12.36. The business has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $6.83. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Insider Activity at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of AGI stock in a transaction on Monday, August 31st. The shares were sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the completion of the transaction, the chief technology officer owned 176,423 shares of the company’s stock, valued at $2,115,311.77. This trade represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

AGI Company Profile

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.