Agrify Co. (NASDAQ:AGFY) Short Interest Down 35.2% in March

Agrify Co. (NASDAQ:AGFY) was the target of a significant decline in short interest during 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. Approximately 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 30,700 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

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

Agrify Stock Performance

Shares of 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 company’s 50 day simple moving average is $20.63 and its 200 day simple moving average is $19.37. The company has a market capitalization of $31.24 million, a price-to-earnings ratio of -1.46 and a beta of 10.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.10 and a current ratio of 0.75.

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.