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

Agrify Co. (NASDAQ:AGFY) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 78,100 shares, a decline of 38.2% from the November 15th total of 126,300 shares. Currently, 26.0% of the company’s shares are sold short. Based on an average daily volume of 539,200 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity

In other Agrify news, Director Max Holtzman sold 1,097 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $41.71, for a total value of $45,755.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Benjamin Kovler acquired 5,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $45.89 per share, for a total transaction of $229,450.00. Following the acquisition, the chief executive officer now directly owns 15,000 shares in the company, valued at $688,350. This represents a 50.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 51.00% of the company’s stock.

Agrify Trading Up 12.5 %

Shares of AGFY stock opened at $40.00 on Friday. The firm’s 50 day moving average price is $18.41 and its two-hundred day moving average price is $9.19. Agrify has a fifty-two week low of $2.71 and a fifty-two week high of $84.44. The company has a quick ratio of 0.10, a current ratio of 0.75 and a debt-to-equity ratio of 0.80. The stock has a market cap of $61.20 million, a price-to-earnings ratio of -2.85 and a beta of 10.31.

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.