RYTHM (NASDAQ:RYM) Announces Earnings Results

RYTHM (NASDAQ:RYM) posted its earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $23.86 million during the quarter. RYTHM had a negative net margin of 6.20% and a negative return on equity of 12.57%.

RYTHM Stock Performance

NASDAQ RYM traded down $1.61 during mid-day trading on Thursday, reaching $16.00. 42,154 shares of the stock were exchanged, compared to its average volume of 15,523. RYTHM has a 1-year low of $14.00 and a 1-year high of $50.38. The business’s fifty day simple moving average is $20.28 and its 200 day simple moving average is $21.84. The stock has a market capitalization of $34.88 million, a PE ratio of -1.52 and a beta of 9.94.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of RYTHM in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in RYTHM stock. Concurrent Investment Advisors LLC boosted its holdings in RYTHM, Inc. (NASDAQ:RYM) by 95.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,100 shares of the company’s stock after buying an additional 10,779 shares during the period. Concurrent Investment Advisors LLC owned 1.01% of RYTHM worth $563,000 at the end of the most recent reporting period. 5.98% of the stock is currently owned by institutional investors.

About RYTHM

Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company 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. It also provides associated services comprising consulting, engineering, and construction.