Agrify (NASDAQ:AGFY) Trading 3.6% Higher – Here’s Why

Agrify Corporation (NASDAQ:AGFY) shot up 3.6% during trading on Thursday . The company traded as high as $19.64 and last traded at $19.64. 6,855 shares traded hands during 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 market capitalization of $39.34 million, a P/E ratio of -0.87 and a beta of 9.96. The business’s 50-day simple moving average is $34.45 and its 200 day simple moving average is $30.86. The company has a quick ratio of 2.52, a current ratio of 2.64 and a debt-to-equity ratio of 1.43.

Institutional Trading of Agrify

A hedge fund recently raised its stake in Agrify stock. Rip Road Capital Partners LP lifted its stake in Agrify Corporation (NASDAQ:AGFY) by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,911 shares of the company’s stock after buying an additional 10,528 shares during the period. Agrify makes up approximately 1.5% of Rip Road Capital Partners LP’s holdings, making the stock its 19th largest holding. Rip Road Capital Partners LP owned about 3.99% of Agrify worth $1,367,000 as of its most recent SEC filing. Institutional investors own 5.98% of the company’s stock.

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.