Streetbeat News

AGFY

Agrify Corporation

https://www.agrify.com

Industry

Engineering & Construction

Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company 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. It also provides associated services comprising consulting, engineering, and construction. The company was formerly known as Agrinamics, Inc. and changed its name to Agrify Corporation in September 2019. Agrify Corporation was incorporated in 2016 and is headquartered in Billerica, Massachusetts.

Open

12.92

Mkt cap

19M

Volume

565K

High

17.80

P/E Ratio

1.62

52-wk high

42.00

Low

12.91

Div yield

N/A

52-wk low

2.71

KeyCorp (NYSE:KEY) shares dropped by 5.4% to $13.10 after reporting Q4 financial results with revenues of $1.538 billion, down 19% Y/Y, but slightly above consensus. Adjusted EPS of 25 cents also exceeded expectations. Other stocks experienced significant movements in Thursday's mid-day session, with various companies reporting gains due to different reasons such as acquisitions, financial results, and analyst upgrades. Conversely, several companies saw their shares fall due to negative news such as voluntary delisting, reverse stock splits, and disappointing earnings guidance.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 6:08 pm

During Thursday's intraday session, several industrial stocks experienced significant movements. Agrify (AGFY) led the gainers with a 28.8% increase, while Spirit Airlines (SAVE) saw the largest decline among the losers, dropping 27.3%. Other notable gainers included TuSimple Holdings (TSP) and Primech Holdings (PMEC), with rises of 24.0% and 11.86%, respectively. Among the losers, Li-Cycle Holdings (LICY) and Plug Power (PLUG) saw substantial decreases of 21.51% and 16.95%, respectively.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 5:31 pm

U.S. stocks were mostly higher with the Nasdaq Composite up over 1%. The Dow was slightly down, while the S&P 500 gained. Information technology shares led gains, while health care shares declined. Crude oil inventories decreased more than expected, boosting oil prices. Agrify Corporation announced a significant sales agreement, M.D.C. Holdings will be acquired by Sekisui House, and Taiwan Semiconductor reported strong financial results. Conversely, Aravive plans to delist from Nasdaq, Processa Pharmaceuticals announced a reverse stock split, and eHealth was downgraded by an analyst.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 5:00 pm

Agrify Corporation (NASDAQ:AGFY) stock surged after announcing a multi-million dollar sales agreement with Ocean Deep/Golden Lake Business Park for its vertical farming units and PX30 Hydrocarbon Extraction Lab. The California-based cannabis operator is expected to start operations with 120 VFUs in 2024. The news has resulted in a significant increase in trading volume for Agrify, with over 48 million shares traded compared to a 100-day average of 20,445 shares. The stock price has jumped 63% to $1.92.

Portfolio Pulse from Erica Kollmann

January 18, 2024 | 3:57 pm

Agrify Corporation's stock (AGFY) is trading higher following the announcement of a multi-million dollar sales agreement with Ocean Deep/Golden Lake Business Park.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:27 pm

U.S. stocks traded mixed with the Nasdaq Composite rising over 100 points. The Dow fell 0.33%, while the S&P 500 gained 0.43%. U.S. initial jobless claims dropped to 187,000, below market estimates of 207,000. Information technology shares led gains, while health care shares declined. Agrify Corporation (AGFY) surged 133% after announcing a new facility in California. Lytus Technologies (LYT) and Celularity Inc. (CELU) also saw significant gains. Aravive, Inc. (ARAV), Processa Pharmaceuticals (PCSA), and Newcourt Acquisition Corp (NCAC) experienced notable declines.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 2:47 pm

In Thursday's pre-market session, several industrial stocks showed significant movement. Agrify (AGFY) saw the largest increase, with shares up 87.3% to $2.21. Roma Green Finance (ROMA) and Greenwave Tech Solns (GWAV) also experienced notable gains. On the downside, BioNexus Gene Lab (BGLC) and Plug Power (PLUG) had the largest declines. Other stocks that moved include FREYR Battery (FREY), Volato Group (SOAR), Mesa Air Gr (MESA), TuSimple Hldgs (TSP), Baiyu Holdings (BYU), Amprius Technologies (AMPX), and Spirit Airlines (SAVE).

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 1:05 pm

Cannabis stocks have experienced a significant surge in early 2024, with the US cannabis MSOS ETF and the global YOLO ETF posting substantial gains. The uptick is attributed to the potential reclassification of cannabis by the DEA, following a recommendation from the Dept. of Health and Human Services. Companies like Jushi, The Cannabist, Cresco, and AYR have seen remarkable increases in their stock prices. Green Thumb Industries, Verano, and MariMed also enjoyed gains, albeit more modest. Agrify reported a notable improvement in financials, with a decrease in operating expenses contributing to a shift from a gross loss to a gain.

Portfolio Pulse from Nicolás Jose Rodriguez

January 09, 2024 | 8:49 pm

Agrify Corporation reported a significant decline in revenue for Q3 FY23, posting $3.1 million compared to $7 million in Q3 FY22. The company also reported a loss per share (EPS) of $(1.27).

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 12:37 pm

Agrify Corporation (NASDAQ:AGFY) reported a significant year-over-year decline in Q2 revenue and gross profit, with revenue dropping 73% to $5.1 million. Despite this, CEO Raymond Chang remains optimistic, citing progress in restructuring the balance sheet, cost reduction, product improvement, and international market certification. Operating expenses decreased notably from $93.1 million to $5.9 million, and net loss improved both sequentially and year-over-year. The company is focused on achieving profitability through further cost reductions and increased efficiency.

Portfolio Pulse from Jelena Martinovic

December 12, 2023 | 3:34 pm

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