Agrify Co.’s Lock-Up Period Set To Expire on July 27th (NASDAQ:AGFY)

Agrify’s (NASDAQ:AGFY) lock-up period is set to expire on Tuesday, July 27th. Agrify had issued 5,400,000 shares in its IPO on January 28th. The total size of the offering was $54,000,000 based on an initial share price of $10.00. After the expiration of Agrify’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Separately, Zacks Investment Research raised Agrify from a “sell” rating to a “hold” rating in a research report on Monday, June 7th.

Shares of NASDAQ AGFY opened at $16.55 on Thursday. The company’s fifty day moving average price is $11.37. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.57 and a current ratio of 11.17. Agrify has a one year low of $6.81 and a one year high of $21.43.

Agrify (NASDAQ:AGFY) last issued its quarterly earnings data on Sunday, May 16th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.26). The company had revenue of $7.01 million during the quarter, compared to analyst estimates of $5.10 million. As a group, research analysts expect that Agrify will post -0.96 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of AGFY. Perkins Capital Management Inc. purchased a new stake in Agrify during the 1st quarter worth about $1,410,000. American International Group Inc. purchased a new stake in Agrify during the 1st quarter worth about $46,000. BlackRock Inc. purchased a new stake in Agrify during the 1st quarter worth about $3,327,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Agrify during the 1st quarter worth about $125,000. Finally, Royce & Associates LP bought a new position in Agrify in the 1st quarter worth about $1,435,000. 16.72% of the stock is currently owned by institutional investors and hedge funds.

Agrify Company Profile

Agrify Corporation develops precision hardware and software grow solutions for the indoor agriculture marketplace primarily in the United States. It offers vertical farming units, 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.

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