Farmmi Inc. (NASDAQ: FAMI) stock fell -1.32% on Wednesday to $0.78 against a previous-day closing price of $0.79. With 0.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.72 million shares. During the session, the Packaged Foods company that operates in the wider Consumer Defensive sector, reached the highest price of $0.7999 whereas the lowest price it dropped to was $0.7706. The 52-week range on FAMI shows that it touched its highest point at $13.25 and its lowest point at $0.76 during that stretch. Beta for the stock currently stands at 0.13.
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BlueFire Equipment Corporation (BLFR)
BlueFire Equipment Corporation (BLFR) stock gained 62.09% on Wednesday to $0.0650 against a previous-day closing price of $0.0401. During the session, the company reached the highest price of $0.0650 whereas the lowest price it dropped to was $0.0412. The 52-week range on BLFR shows that it touched its highest point at $0.1200 and its lowest point at $0.0048 during that stretch. Beta for the stock currently stands at 1.42.
BlueFire Equipment, Corp., an acquisition-oriented company with a focus on growing industries relating to agriculture, has closed an acquisition deal with Miracel Life Farn, the family-owned Floridian farm.
At present, Miracle Life Farm LLC grows exotic fruits like Sugar Apple, Thai Guava, and Mamay on 13 acres of agricultural area. Under the USDA jurisdiction, these high-demand premium fruits have been distributed wholesale across the country, including to major stores like Windixie and Presidente. The owners of Miracle Life are prepared to use their skills and network to grow to larger lots and distribution channels after more than 6 years of successful presence in the market. Through an amicable merger, the ownership structure of the two companies has seen a shift, with BLFR acquiring 81% Preferred Class B control shares of Miracle Life, whereas 19% is being retained by the founders of the business.
Now operating as a public company, Miracle Life can now take advantage of the capital markets and all the USDA perks to significantly expand its business and market scope. It will also be in a position to acquire similar businesses which would lead to the creation of synergistic benefits and ultimately maximize total shareholder value.
The assets of Miracle Life, at the end of June 2022, were $3,133,827.95, while revenues were $307,423.21. The company is focused on forward-looking expansion and a restructuring of its business. BLFR focuses primarily on the acquisition, with special emphasis on high-growth industries, such as those relating to agriculture. The Miracle Life Farm LLC deal is its first acquisition, giving the Company exposure to the exotic fruit market.
Zovio Inc (ZVO)
Zovio Inc (NASDAQ: ZVO) stock jumped 4.04% on Wednesday to $0.25 against a previous-day closing price of $0.25. With 7.63 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.55 million shares. During the session, the Education & Training Services company that operates in the wider Consumer Defensive sector, reached the highest price of $0.2700 whereas the lowest price it dropped to was $0.2331. The 52-week range on ZVO shows that it touched its highest point at $2.53 and its lowest point at $0.22 during that stretch. It currently has a 1-year price target of $5.00. Beta for the stock currently stands at 1.08.
Float and Shares Shorts
At present, 34.12 million ZVO shares are outstanding with a float of 31.85 million shares on hand for trading. On Aug 30, 2022, short shares totaled 0.22 million, which was 0.63% higher than short shares on Jul 28, 2022. In addition to Mr. Randy J. Hendricks as the firm’s CEO & Director, Mr. Kevin S. Royal serves as its CFO & Exec. VP.
