AgroFresh Solutions (NASDAQ:AGFS) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of AgroFresh Solutions (NASDAQ:AGFS) from a strong sell rating to a hold rating in a research report sent to investors on Monday, Zacks.com reports.

According to Zacks, “AgroFresh Solutions, Inc. is engaged in providing data driven specialty chemical solutions. Its flagship product is the SmartFresh(TM) Quality System, a freshness protection technology proven to maintain firmness, texture and appearance of fruits during storage and transport. AgroFresh Solutions, Inc., formerly known as Boulevard Acquisition Corp., is headquartered in Collegeville, Pennsylvania. “

Separately, National Securities reaffirmed a buy rating and set a $5.50 target price on shares of AgroFresh Solutions in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $5.50.

Shares of NASDAQ:AGFS opened at $2.63 on Monday. The company has a quick ratio of 1.74, a current ratio of 2.13 and a debt-to-equity ratio of 1.17. AgroFresh Solutions has a 12-month low of $1.33 and a 12-month high of $5.10. The business’s 50 day moving average is $2.55 and its 200 day moving average is $2.08.

AgroFresh Solutions (NASDAQ:AGFS) last announced its earnings results on Thursday, November 7th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.14). The company had revenue of $48.97 million for the quarter, compared to analysts’ expectations of $70.36 million. AgroFresh Solutions had a negative net margin of 20.80% and a negative return on equity of 8.99%. Analysts forecast that AgroFresh Solutions will post -0.45 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC boosted its position in AgroFresh Solutions by 1,910.5% in the third quarter. Millennium Management LLC now owns 335,155 shares of the basic materials company’s stock worth $881,000 after purchasing an additional 318,485 shares during the last quarter. First Manhattan Co. raised its stake in shares of AgroFresh Solutions by 1.4% in the second quarter. First Manhattan Co. now owns 2,609,360 shares of the basic materials company’s stock valued at $3,940,000 after buying an additional 35,650 shares during the period. Susquehanna International Group LLP bought a new stake in shares of AgroFresh Solutions in the second quarter valued at $65,000. Jane Street Group LLC bought a new stake in shares of AgroFresh Solutions during the 2nd quarter valued at $192,000. Finally, Morgan Stanley raised its stake in shares of AgroFresh Solutions by 108.3% during the 2nd quarter. Morgan Stanley now owns 83,740 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 43,548 shares during the period. 73.12% of the stock is currently owned by institutional investors and hedge funds.

About AgroFresh Solutions

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.

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