Agrify Corporation (NASDAQ: AGFY) stock jumped 9.75% on Friday to $0.59 against a previous-day closing price of $0.54. With 0.65 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.4 million shares. During the session, the Engineering & Construction company that operates in wider Industrials sector, reached to the highest price of $0.6000 whereas the lowest price it dropped to was $0.5392. The 52-week range on AGFY shows that it touched its highest point at $86.35 and its lowest point at $0.25 during that stretch. It currently has a 1-year price target of $5.30.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AGFY was up-trending over the past week, with a rise of 31.38%, but this was up by 76.48% over a month. Three-month performance dropped to -76.82% while six-month performance fell -96.44%. The stock lost -99.18% in the past year, while it has gained 77.54% so far this year. A look at the trailing 12-month EPS for AGFY yields -62.06 with Next year EPS estimates of -6.20. For the next quarter, that number is -3.56. This implies an EPS growth rate of -59.70% for this year and 89.20% for next year.
Float and Shares Shorts:
At present, 8.86 million AGFY shares are outstanding with a float of 6.34 million shares on hand for trading. On Dec 29, 2022, short shares totaled 0.42 million, which was 2.04% higher than short shares on Nov 29, 2022. In addition to Mr. Raymond Nobu Chang Jr. as the firm’s CEO, Chairman & Corp. Sec., Mr. Timothy R. Oakes serves as its Chief Financial Officer.
Through their ownership of 5.70% of AGFY’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.04% of AGFY, in contrast to 28.17% held by mutual funds. Shares owned by individuals account for 1.63%. As the largest shareholder in AGFY with 1.24% of the stake, ETF Managers Group LLC holds 110,432 shares worth 110,432. A second-largest stockholder of AGFY, The Vanguard Group, Inc., holds 98,929 shares, controlling over 1.12% of the firm’s shares. Uniplan Investment Counsel, Inc. is the third largest shareholder in AGFY, holding 74,639 shares or 0.84% stake. With a 2.66% stake in AGFY, the Cannabis ETF is the largest stakeholder. A total of 236,256 shares are owned by the mutual fund manager. The ETFMG Alternative Harvest ETF, which owns about 0.62% of AGFY stock, is the second-largest Mutual Fund holder. It holds 55,328 shares valued at 18424.0. Vanguard Extended Market Index Fu holds 0.31% of the stake in AGFY, owning 27,782 shares worth 9251.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Sep 29, 2022, AGFY reported revenue of $19.33M and operating income of -$22.54M. The EBITDA in the recently reported quarter was $47.60M and diluted EPS was -$35.10.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AGFY since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AGFY analysts setting a high price target of $3.00 and a low target of $0.35, the average target price over the next 12 months is $1.68. Based on these targets, AGFY could surge 408.47% to reach the target high and fall by -40.68% to reach the target low. Reaching the average price target will result in a growth of 184.75% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AGFY will report FY 2022 earnings on 03/20/2024. Analysts have provided yearly estimates in a range of -$56.70 being high and -$58.06 being low. For AGFY, this leads to a yearly average estimate of -$57.38. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Agrify Corporation surprised analysts by -$13.53 when it reported -$17.33 EPS against a consensus estimate of -$3.80. The surprise factor in the prior quarter was -$30.77. Based on analyst estimates, the high estimate for the next quarter is -$0.63 and the low estimate is -$5.15. The average estimate for the next quarter is thus -$2.59.
Summary of Insider Activity:
Insiders traded AGFY stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 2,366,123 shares were bought while 0 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,524,419 while 0 shares were sold.