Agrify Co. (NASDAQ:AGFY) Sees Significant Decrease in Short Interest

Agrify Co. (NASDAQ:AGFY) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 25,800 shares, a drop of 46.5% from the December 15th total of 48,200 shares. Based on an average daily trading volume, of 557,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 3.1% of the shares of the company are short sold.

Agrify Price Performance

Shares of Agrify stock opened at $22.97 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.75 and a debt-to-equity ratio of 0.80. Agrify has a 52 week low of $2.71 and a 52 week high of $84.44. The stock’s 50-day simple moving average is $30.38 and its 200-day simple moving average is $13.28. The company has a market capitalization of $35.14 million, a price-to-earnings ratio of -1.64 and a beta of 10.44.

Insider Transactions at Agrify

In related news, insider David Aaron Kessler sold 13,598 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $37.44, for a total value of $509,109.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Benjamin Kovler purchased 5,000 shares of the stock in a transaction on Friday, November 22nd. The shares were purchased 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 of the company’s stock, valued at approximately $688,350. This represents a 50.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 51.00% of the company’s stock.

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.