Forafric Global (NASDAQ:AFRI) Stock Price Up 0.2% – Here’s What Happened
by Amy Steele · The Cerbat GemShares of Forafric Global PLC (NASDAQ:AFRI – Get Free Report) were up 0.2% during mid-day trading on Friday . The stock traded as high as $10.03 and last traded at $10.00. Approximately 10,948 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 11,449 shares. The stock had previously closed at $9.98.
Analysts Set New Price Targets
Separately, Weiss Ratings lowered shares of Forafric Global from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Forafric Global has an average rating of “Sell”.
View Our Latest Report on AFRI
Forafric Global Price Performance
The company has a quick ratio of 0.26, a current ratio of 0.33 and a debt-to-equity ratio of 2.97. The firm’s 50 day moving average is $9.94 and its 200-day moving average is $10.06.
Forafric Global (NASDAQ:AFRI – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.04) earnings per share (EPS) for the quarter. The company had revenue of $44.57 million for the quarter.
Institutional Investors Weigh In On Forafric Global
Several institutional investors and hedge funds have recently modified their holdings of AFRI. Russell Investments Group Ltd. lifted its position in Forafric Global by 210.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 42,059 shares of the company’s stock worth $365,000 after acquiring an additional 28,532 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Forafric Global during the 4th quarter worth $159,000. Geode Capital Management LLC lifted its position in Forafric Global by 23.4% during the 4th quarter. Geode Capital Management LLC now owns 62,370 shares of the company’s stock worth $688,000 after acquiring an additional 11,815 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Forafric Global during the 1st quarter worth $102,000. Finally, Sei Investments Co. acquired a new position in Forafric Global during the 2nd quarter worth $78,000. Institutional investors and hedge funds own 5.49% of the company’s stock.
Forafric Global Company Profile
Forafric Global Corporation is a Delaware‐incorporated special purpose acquisition company (SPAC) listed on the Nasdaq under the ticker AFRI. Established in 2023, the company was formed to raise capital through an initial public offering for the purpose of identifying and consummating a business combination with one or more operating businesses. As a blank‐check vehicle, Forafric Global does not engage in any commercial operations until it completes a merger, share exchange, asset acquisition, stock purchase or similar transaction.
The company’s investment mandate is focused on growth opportunities across the African continent.