Armon Vakili Sells 2,250 Shares of RYTHM (NASDAQ:RYM) Stock

RYTHM, Inc. (NASDAQ:RYM) Director Armon Vakili sold 2,250 shares of RYTHM stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $26.52, for a total transaction of $59,670.00. Following the completion of the transaction, the director directly owned 10,850 shares in the company, valued at $287,742. This trade represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

RYTHM Price Performance

RYM traded up $0.83 during trading on Thursday, hitting $27.98. 8,747 shares of the stock traded hands, compared to its average volume of 16,174. The business has a 50 day moving average price of $26.94 and a 200 day moving average price of $22.28. RYTHM, Inc. has a twelve month low of $14.00 and a twelve month high of $53.65. The company has a market cap of $60.16 million, a price-to-earnings ratio of -1.95 and a beta of 9.46.

RYTHM (NASDAQ:RYM) last issued its earnings results on Tuesday, May 5th. The company reported $1.33 earnings per share for the quarter. RYTHM had a negative return on equity of 56.12% and a negative net margin of 38.99%.The firm had revenue of $13.29 million for the quarter.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Weiss Ratings upgraded RYTHM from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Wall Street Zen upgraded shares of RYTHM from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in RYTHM stock. Geode Capital Management LLC acquired a new position in shares of RYTHM, Inc. (NASDAQ:RYM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 13,729 shares of the company’s stock, valued at approximately $293,000. Geode Capital Management LLC owned about 0.64% of RYTHM at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.98% of the company’s stock.

About RYTHM

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.