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

In Wednesday's intraday session, notable movements were observed in the industrials stocks sector. Ryde Group (RYDE) led the gainers with a 73.9% increase, while iSun (ISUN) experienced the largest drop among the losers, declining by 23.8%. Other significant movements included CEA Industries (CEAD) and Beam Global (BEEM) with substantial gains, and SolarMax Technology (SMXT) and Greenland Technologies (GTEC) with notable losses. Earnings reports released around this period appear to have influenced stock performances, with companies like Beam Global, Agrify, United Airlines Holdings, iSun, and Greenland Technologies releasing their quarterly results.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 4:31 pm

Nature's Miracle Holding Inc. (NASDAQ:NMHI) has announced a merger with Agrify Corporation (NASDAQ:AGFY), where NMHI will acquire all outstanding shares of AGFY. The deal values AGFY's equity at $6.35 million, with Agrify shareholders receiving approximately 0.45 of a NMHI share for each AGFY share. The merger is expected to enhance Nature's Miracle's revenue streams through Agrify's SaaS and AI technology, particularly in cannabis extraction. The transaction is anticipated to close within six months, pending due diligence, shareholder approval, and customary closing conditions. Agrify's stock surged 41.0816% to $0.4200 per share following the announcement.

Portfolio Pulse from Jelena Martinovic

April 17, 2024 | 2:17 pm

Agrify Corporation (AGFY) stock soared following the announcement of its acquisition by Nature's Miracle Holding Inc. (NMHI). Nature's Miracle will acquire all outstanding shares of Agrify, with Agrify shareholders receiving approximately 0.45 of a Nature's Miracle share for each Agrify share. The deal values AGFY equity at $6.35 million or $0.4185 per share. This acquisition is expected to enhance revenue streams for Nature's Miracle through Agrify's SaaS and AI technology, while Agrify benefits from Nature's advanced horticultural and cultivation lighting technologies. Post-merger, Agrify's CEO, Raymond Chang, will become President of the Agrify division at Nature's Miracle and join its board. The transaction, expected to close within six months, has led to a 27.6% increase in AGFY's stock price to $0.38.

Portfolio Pulse from Shivani Kumaresan

April 17, 2024 | 2:04 pm

In Wednesday's pre-market session, several industrials stocks showed significant movement. Agrify (AGFY) led the gainers with a 65.9% increase following its Q4 earnings report. Other notable gainers include Pineapple Energy (PEGY), Complete Solaria (CSLR), and Beam Global (BEEM), with their stocks rising due to various factors. On the losing side, iSun (ISUN) experienced the largest drop of 12.7% after its Q4 earnings release, followed by Castor Maritime (CTRM) and Dragonfly Energy Holdings (DFLI). The movements were largely influenced by recent earnings reports.

Portfolio Pulse from Benzinga Insights

April 17, 2024 | 12:08 pm

Trading for AGFY was halted and then resumed at 7:55:00 AM ET, following an update on halt status, news, and resumption times.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:55 am

Nature's Miracle Holding has entered into a term sheet to acquire all outstanding shares of Agrify, with Agrify shareholders to receive approximately 0.45 shares of Nature's Miracle for each share they hold. The equity of Agrify is valued at $6,350,528, and the transaction is expected to close within six months.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:32 am

Trading for AGFY was halted at 7:25:00 a.m. ET due to pending news, indicating a significant announcement or development is forthcoming.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 11:25 am

In Tuesday's pre-market session, several industrials stocks showed significant movement. Dragonfly Energy Holdings (DFLI) and Agrify (AGFY) reported Q4 earnings, leading to a 56.0% increase in DFLI's stock to $0.7 and an 8.69% rise in AGFY's stock to $0.32. Markforged Holding (MKFG), Enovix (ENVX), noco-noco (NCNC), and Castor Maritime (CTRM) also saw gains. Conversely, Skillsoft (SKIL) reported Q4 earnings, resulting in a 19.6% decrease in its stock to $7.4. Complete Solaria (CSLR), Flux Power Holdings (FLUX), Lennox Intl (LII), Erayak Power Solution Gr (RAYA), and NN (NNBR) experienced declines.

Portfolio Pulse from Benzinga Insights

April 16, 2024 | 12:07 pm

Agrify Corporation (NASDAQ:AGFY), a leader in cannabis cultivation and extraction technologies, reported its first-ever positive quarterly net income for Q4 2023, amounting to $572,000, compared to a net loss of $57.94 million in the same period in 2022. Despite a decrease in annual revenue to $16.9 million from $58.3 million, the company achieved a gross profit of $5.3 million for the year, reversing a gross loss of $31.8 million in 2022. These results reflect Agrify's successful strategic measures for financial stabilization and growth.

Portfolio Pulse from Nicolás Jose Rodriguez

April 16, 2024 | 12:17 am

Agrify (NASDAQ:AGFY) reported a significant decrease in sales for Q4, with $2.86 million compared to $5.89 million in the same period last year, marking a 51.46% drop.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:44 pm

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