Forafric Global (NASDAQ:AFRI) Trading 2.2% Higher – Here’s What Happened

Forafric Global PLC (NASDAQ:AFRI)’s stock price traded up 2.2% on Thursday . The stock traded as high as $11.91 and last traded at $11.29. Approximately 52,030 shares were traded during mid-day trading, an increase of 118% from the average session volume of 23,848 shares. The stock had previously closed at $11.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Forafric Global in a research note on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Forafric Global Trading Up 2.2%

The stock has a 50 day moving average price of $10.79 and a 200-day moving average price of $10.20. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.26 and a current ratio of 0.33.

Hedge Funds Weigh In On Forafric Global

A hedge fund recently bought a new position in Forafric Global stock. Bank of New York Mellon Corp purchased a new position in Forafric Global PLC (NASDAQ:AFRI) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,585 shares of the company’s stock, valued at approximately $102,000. Hedge funds and other institutional investors own 5.49% of the company’s stock.

About Forafric Global

Forafric Global PLC (NASDAQ: AFRI) is a food-processing company focused on producing and distributing staple food products in Africa and international markets. The company processes agricultural commodities, particularly wheat and other grains, into products for consumers, retailers, food-service businesses and industrial customers.

Its product portfolio includes flour, semolina, couscous, pasta, coffee and related food products. Forafric markets products under brands including Tria and MayMouna, while also supplying private-label and bulk products to customers.