AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Down 5.6% in November

AFC Gamma, Inc. (NASDAQ:AFCG) was the target of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 480,100 shares, a drop of 5.6% from the November 15th total of 508,600 shares. Based on an average daily volume of 177,200 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AFCG. Tidal Investments LLC increased its stake in 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 last quarter. Ritholtz Wealth Management grew its holdings in shares of AFC Gamma by 91.1% during the 3rd quarter. Ritholtz Wealth Management now owns 60,820 shares of the company’s stock worth $621,000 after purchasing an additional 28,998 shares during the period. Centiva Capital LP acquired a new stake in AFC Gamma during the 3rd quarter worth approximately $193,000. Spire Wealth Management increased its position in AFC Gamma by 141.5% during the 2nd quarter. Spire Wealth Management now owns 29,700 shares of the company’s stock worth $362,000 after purchasing an additional 17,400 shares in the last quarter. Finally, Barclays PLC raised its holdings in AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company’s stock valued at $231,000 after buying an additional 16,245 shares during the period. 26.53% of the stock is owned by hedge funds and other institutional investors.

AFC Gamma Stock Down 3.0 %

Shares of AFCG opened at $9.30 on Tuesday. AFC Gamma has a fifty-two week low of $8.06 and a fifty-two week high of $13.35. The company’s fifty day moving average is $9.73 and its two-hundred day moving average is $10.24. The firm has a market cap of $204.16 million, a PE ratio of 23.25 and a beta of 1.03. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29.

Analysts Set New Price Targets

A number of brokerages have recently commented on AFCG. Seaport Res Ptn raised AFC Gamma to a “strong-buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group lowered their price target on AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.