AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Down 5.6% in November

AFC Gamma, Inc. (NASDAQ:AFCG) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 480,100 shares, a decline of 5.6% from the November 15th total of 508,600 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 177,200 shares, the short-interest ratio is currently 2.7 days.

AFC Gamma Trading Down 3.0 %

Shares of AFCG opened at $9.30 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.92 and a quick ratio of 3.92. AFC Gamma has a 1-year low of $8.06 and a 1-year high of $13.35. The stock has a market cap of $204.16 million, a price-to-earnings ratio of 23.25 and a beta of 1.03. The firm has a 50 day simple moving average of $9.73 and a 200-day simple moving average of $10.24.

Hedge Funds Weigh In On AFC Gamma

Several hedge funds have recently bought and sold shares of AFCG. McIlrath & Eck LLC acquired a new stake in shares of AFC Gamma during the third quarter valued at $52,000. GSA Capital Partners LLP purchased a new position in AFC Gamma in the 3rd quarter valued at about $140,000. Centiva Capital LP purchased a new position in AFC Gamma in the 3rd quarter valued at about $193,000. Barclays PLC boosted its stake in shares of AFC Gamma by 257.0% during the 3rd quarter. Barclays PLC now owns 22,567 shares of the company’s stock worth $231,000 after purchasing an additional 16,245 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of AFC Gamma by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 23,296 shares of the company’s stock worth $284,000 after buying an additional 1,071 shares in the last quarter. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Analyst Upgrades and Downgrades

AFCG has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their target price on shares of AFC Gamma from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, September 3rd. Seaport Res Ptn upgraded AFC Gamma to a “strong-buy” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

About AFC Gamma

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.