Agrify (NASDAQ:AGFY) Announces Earnings Results

Agrify (NASDAQ:AGFYGet Rating) issued its earnings results on Monday. The company reported ($3.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($3.08), MarketWatch Earnings reports. Agrify had a negative return on equity of 30.14% and a negative net margin of 145.07%. During the same period last year, the firm posted ($0.28) earnings per share. Agrify updated its FY 2022 guidance to EPS.

Agrify Trading Down 4.3 %

Shares of AGFY stock opened at $1.32 on Wednesday. The stock has a market cap of $35.10 million, a price-to-earnings ratio of -0.28 and a beta of 1.69. The stock has a 50-day moving average of $1.82 and a 200-day moving average of $3.49. The company has a current ratio of 3.52, a quick ratio of 2.59 and a debt-to-equity ratio of 0.30. Agrify has a 1-year low of $1.26 and a 1-year high of $35.94.

Analyst Ratings Changes

AGFY has been the subject of a number of recent research reports. Roth Capital cut Agrify from a “buy” rating to a “neutral” rating in a report on Tuesday. Alliance Global Partners decreased their price target on Agrify from $15.00 to $11.00 in a research note on Thursday, May 12th.

Institutional Investors Weigh In On Agrify

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Agrify by 1.5% in the first quarter. BlackRock Inc. now owns 307,063 shares of the company’s stock valued at $1,421,000 after buying an additional 4,533 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Agrify by 122.5% in the second quarter. JPMorgan Chase & Co. now owns 16,139 shares of the company’s stock valued at $32,000 after buying an additional 8,886 shares during the period. Millennium Management LLC bought a new stake in shares of Agrify during the 2nd quarter valued at about $29,000. Vident Investment Advisory LLC boosted its position in shares of Agrify by 72.3% during the 1st quarter. Vident Investment Advisory LLC now owns 43,337 shares of the company’s stock valued at $201,000 after purchasing an additional 18,178 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Agrify during the 1st quarter valued at about $101,000. Institutional investors and hedge funds own 31.66% of the company’s stock.

Agrify Company Profile

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Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company 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.

See Also

Earnings History for Agrify (NASDAQ:AGFY)

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