Agrify Co. (NASDAQ:AGFY) Sees Large Decline in Short Interest

Agrify Co. (NASDAQ:AGFY) was the target of a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 23,900 shares, a decline of 35.2% from the February 28th total of 36,900 shares. Based on an average daily volume of 30,700 shares, the days-to-cover ratio is currently 0.8 days. Currently, 2.9% of the company’s shares are sold short.

Institutional Investors Weigh In On Agrify

Large investors have recently made changes to their positions in the business. SG Capital Management LLC acquired a new position in shares of Agrify during the 4th quarter valued at $692,000. Rip Road Capital Partners LP purchased a new position in Agrify in the fourth quarter valued at about $1,953,000. Marathon Partners Equity Management LLC acquired a new position in shares of Agrify during the fourth quarter worth about $174,000. AdvisorShares Investments LLC purchased a new stake in shares of Agrify in the fourth quarter worth about $321,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Agrify in the fourth quarter valued at about $841,000. Institutional investors and hedge funds own 5.98% of the company’s stock.

Agrify Stock Down 3.4 %

AGFY opened at $20.42 on Friday. Agrify has a 1 year low of $2.71 and a 1 year high of $84.44. The firm has a 50 day moving average price of $20.63 and a 200 day moving average price of $19.37. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.10 and a current ratio of 0.75. The company has a market cap of $31.24 million, a PE ratio of -1.46 and a beta of 10.39.

About Agrify

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.