AgroFresh Solutions (NASDAQ:AGFS) Shares Up 16.4%

Shares of AgroFresh Solutions Inc (NASDAQ:AGFS) shot up 16.4% during trading on Friday . The company traded as high as $2.65 and last traded at $2.62, 87,144 shares were traded during mid-day trading. A decline of 49% from the average session volume of 172,127 shares. The stock had previously closed at $2.25.

A number of brokerages have commented on AGFS. ValuEngine upgraded shares of AgroFresh Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. National Securities restated a “buy” rating and issued a $2.50 target price on shares of AgroFresh Solutions in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $5.08.

The company has a quick ratio of 1.58, a current ratio of 1.98 and a debt-to-equity ratio of 1.17. The stock’s 50 day moving average price is $1.80 and its 200-day moving average price is $2.33. The stock has a market capitalization of $134.78 million, a P/E ratio of -4.68 and a beta of 0.54.

AgroFresh Solutions (NASDAQ:AGFS) last released its quarterly earnings data on Thursday, August 8th. The basic materials company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.05. AgroFresh Solutions had a negative net margin of 18.44% and a negative return on equity of 8.77%. The firm had revenue of $21.18 million for the quarter, compared to the consensus estimate of $18.90 million. Analysts anticipate that AgroFresh Solutions Inc will post -0.49 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AGFS. SG Americas Securities LLC lifted its position in AgroFresh Solutions by 68.4% during the second quarter. SG Americas Securities LLC now owns 18,039 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 7,330 shares during the last quarter. LPL Financial LLC lifted its position in AgroFresh Solutions by 90.0% during the second quarter. LPL Financial LLC now owns 19,000 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 9,000 shares during the last quarter. Bank of America Corp DE lifted its position in AgroFresh Solutions by 39.5% during the fourth quarter. Bank of America Corp DE now owns 36,369 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 10,300 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in AgroFresh Solutions during the second quarter valued at approximately $31,000. Finally, A.R.T. Advisors LLC purchased a new stake in AgroFresh Solutions during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About AgroFresh Solutions (NASDAQ:AGFS)

AgroFresh Solutions, Inc provides data-driven solutions worldwide. The company uses 1-Methylcyclopropene technology, an ethylene action inhibitor to maintain freshness and extend the shelf life of various fresh produce. Its solutions enable growers and packers of fresh produce to preserve and enhance the freshness, quality, and value of fresh produce, including apples, pears, kiwifruit, plums, persimmons avocados, and bananas, as well as flowers.

See Also: Return on Investment (ROI)

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