Agrify (NASDAQ:AGFY) Stock Price Up 3.6% – Still a Buy?

Agrify Corporation (NASDAQ:AGFY)’s stock price shot up 3.6% during trading on Thursday . The stock traded as high as $19.64 and last traded at $19.64. 6,855 shares were traded during mid-day trading, a decline of 78% from the average session volume of 31,467 shares. The stock had previously closed at $18.95.

Agrify Price Performance

The firm has a 50-day simple moving average of $34.11 and a two-hundred day simple moving average of $30.85. The company has a market capitalization of $38.58 million, a price-to-earnings ratio of -0.85 and a beta of 9.96. The company has a current ratio of 2.64, a quick ratio of 2.52 and a debt-to-equity ratio of 1.43.

Institutional Investors Weigh In On Agrify

A hedge fund recently raised its stake in Agrify stock. Rip Road Capital Partners LP raised its stake in shares of Agrify Corporation (NASDAQ:AGFY) by 15.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,911 shares of the company’s stock after purchasing an additional 10,528 shares during the period. Agrify accounts for 1.5% of Rip Road Capital Partners LP’s holdings, making the stock its 19th biggest position. Rip Road Capital Partners LP owned about 3.99% of Agrify worth $1,367,000 as of its most recent filing with the Securities & Exchange Commission. 5.98% of the stock is currently owned by institutional investors.

Agrify Company Profile

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.