Agrify Co. (NASDAQ:AGFY) Sees Significant Drop in Short Interest

Agrify Co. (NASDAQ:AGFY) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 48,200 shares, a decrease of 38.3% from the November 30th total of 78,100 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average daily volume of 551,300 shares, the short-interest ratio is currently 0.1 days.

Agrify Price Performance

Shares of NASDAQ:AGFY opened at $33.53 on Friday. The firm’s 50 day simple moving average is $25.00 and its two-hundred day simple moving average is $11.45. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.75 and a quick ratio of 0.10. The company has a market capitalization of $51.30 million, a P/E ratio of -2.39 and a beta of 10.31. Agrify has a 1-year low of $2.71 and a 1-year high of $84.44.

Insider Transactions at Agrify

In related news, CEO Benjamin Kovler acquired 5,000 shares of Agrify stock in a transaction dated Friday, November 22nd. The stock was purchased at an average cost of $45.89 per share, for a total transaction of $229,450.00. Following the purchase, the chief executive officer now directly owns 15,000 shares of the company’s stock, valued at approximately $688,350. This trade represents a 50.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Max Holtzman sold 1,097 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $41.71, for a total value of $45,755.87. The disclosure for this sale can be found here. Company insiders own 51.00% of the company’s stock.

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.