Agrify Co. (NASDAQ:AGFY) Sees Large Decline in Short Interest

Agrify Co. (NASDAQ:AGFY) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 190,100 shares, a decline of 69.0% from the February 29th total of 613,600 shares. Currently, 7.9% of the company’s stock are short sold. Based on an average daily volume of 3,280,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Agrify in the 2nd quarter valued at $29,000. JPMorgan Chase & Co. boosted its stake in Agrify by 122.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,139 shares of the company’s stock valued at $32,000 after purchasing an additional 8,886 shares during the period. Private Advisor Group LLC bought a new stake in Agrify in the 1st quarter valued at $101,000. Vident Investment Advisory LLC boosted its stake in Agrify by 72.3% in the 1st quarter. Vident Investment Advisory LLC now owns 43,337 shares of the company’s stock valued at $201,000 after purchasing an additional 18,178 shares during the period. Finally, AXS Investments LLC boosted its stake in Agrify by 47.0% in the 4th quarter. AXS Investments LLC now owns 48,016 shares of the company’s stock valued at $58,000 after purchasing an additional 15,356 shares during the period. 5.98% of the stock is currently owned by institutional investors.

Agrify Price Performance

NASDAQ:AGFY opened at $0.39 on Thursday. Agrify has a twelve month low of $0.36 and a twelve month high of $9.00. The stock’s 50 day moving average price is $0.58 and its two-hundred day moving average price is $1.36.

Agrify (NASDAQ:AGFY) last issued its earnings results on Wednesday, January 3rd. The company reported ($1.27) EPS for the quarter. The firm had revenue of $3.14 million during the quarter.

Agrify Company Profile

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.