Agrify (NASDAQ:AGFY) Trading Down 21.5% – Time to Sell?

Agrify Corporation (NASDAQ:AGFY) dropped 21.5% during mid-day trading on Wednesday . The stock traded as low as $24.33 and last traded at $24.33. Approximately 42,956 shares were traded during trading, an increase of 37% from the average daily volume of 31,467 shares. The stock had previously closed at $31.00.

Agrify Stock Down 21.5%

The firm has a market capitalization of $48.73 million, a price-to-earnings ratio of -1.07 and a beta of 9.96. The company has a debt-to-equity ratio of 1.43, a quick ratio of 2.52 and a current ratio of 2.64. The business’s 50 day moving average is $40.56 and its 200-day moving average is $31.25.

Hedge Funds Weigh In On Agrify

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

About Agrify

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.