Forafric Global (NASDAQ:AFRI) Shares Up 2.2% – Here’s Why

Forafric Global PLC (NASDAQ:AFRI)’s share price shot up 2.2% during mid-day trading on Thursday . The stock traded as high as $11.91 and last traded at $11.29. 52,030 shares changed hands during mid-day trading, an increase of 118% from the average session volume of 23,848 shares. The stock had previously closed at $11.05.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Forafric Global in a report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Forafric Global Stock Up 2.2%

The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.26 and a current ratio of 0.33. The stock’s fifty day moving average price is $10.79 and its two-hundred day moving average price is $10.20.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Forafric Global stock. Renaissance Technologies LLC grew its holdings in Forafric Global PLC (NASDAQ:AFRI) by 17.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 15,900 shares of the company’s stock after buying an additional 2,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.06% of Forafric Global worth $153,000 at the end of the most recent quarter. 5.49% of the stock is owned by hedge funds and other institutional investors.

Forafric Global Company Profile

Forafric Global PLC (NASDAQ: AFRI) is a food-processing company focused on producing and distributing staple food products in Africa and international markets. The company processes agricultural commodities, particularly wheat and other grains, into products for consumers, retailers, food-service businesses and industrial customers.

Its product portfolio includes flour, semolina, couscous, pasta, coffee and related food products. Forafric markets products under brands including Tria and MayMouna, while also supplying private-label and bulk products to customers.