Agrify (NASDAQ:AGFY) Shares Up 4% – Time to Buy?

Agrify Co. (NASDAQ:AGFY)’s stock price rose 4% during mid-day trading on Wednesday . The stock traded as high as $20.14 and last traded at $19.67. Approximately 8,473 shares traded hands during trading, a decline of 97% from the average daily volume of 255,010 shares. The stock had previously closed at $18.91.

Agrify Stock Performance

The business has a 50-day simple moving average of $20.85 and a 200 day simple moving average of $19.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.75 and a quick ratio of 0.10. The firm has a market cap of $30.10 million, a PE ratio of -1.40 and a beta of 10.39.

Institutional Investors Weigh In On Agrify

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Capital Management LLC purchased a new position in Agrify during the fourth quarter valued at approximately $692,000. Rip Road Capital Partners LP bought a new stake in shares of Agrify during the 4th quarter valued at $1,953,000. Marathon Partners Equity Management LLC purchased a new position in shares of Agrify during the 4th quarter valued at $174,000. Renaissance Technologies LLC bought a new position in Agrify in the 4th quarter worth $841,000. Finally, AdvisorShares Investments LLC purchased a new stake in Agrify in the 4th quarter worth $321,000. 5.98% of the stock is owned by hedge funds and other institutional investors.

Agrify Company Profile

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.