Forafric Global (NASDAQ:AFRI) Trading Up 2.2% – Here’s Why

Forafric Global PLC (NASDAQ:AFRI)’s stock price was up 2.2% during trading on Thursday . The company traded as high as $11.91 and last traded at $11.29. Approximately 52,030 shares changed hands during trading, an increase of 118% from the average daily volume of 23,848 shares. The stock had previously closed at $11.05.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forafric Global in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

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 has a 50 day moving average price of $10.80 and a 200-day moving average price of $10.21.

Institutional Trading of Forafric Global

A hedge fund recently raised its stake in Forafric Global stock. Renaissance Technologies LLC increased its holdings in shares of Forafric Global PLC (NASDAQ:AFRI) by 17.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,900 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Renaissance Technologies LLC owned approximately 0.06% of Forafric Global worth $153,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 5.49% of the company’s stock.

Forafric Global Company Profile

Forafric Global PLC (NASDAQ: AFRI) is a food-processing company focused on producing and distributing staple food products in Africa and international markets. The company processes agricultural commodities, particularly wheat and other grains, into products for consumers, retailers, food-service businesses and industrial customers.

Its product portfolio includes flour, semolina, couscous, pasta, coffee and related food products. Forafric markets products under brands including Tria and MayMouna, while also supplying private-label and bulk products to customers.