RYTHM (NASDAQ:RYM) Posts Earnings Results

RYTHM (NASDAQ:RYM) announced its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $23.02 million for the quarter. RYTHM had a negative net margin of 38.99% and a negative return on equity of 56.12%.

RYTHM Stock Performance

Shares of NASDAQ:RYM traded up $3.00 during mid-day trading on Tuesday, reaching $23.64. 6,211 shares of the company’s stock were exchanged, compared to its average volume of 15,360. RYTHM has a twelve month low of $14.00 and a twelve month high of $53.65. The firm has a market capitalization of $51.55 million, a price-to-earnings ratio of -1.65 and a beta of 9.47. The business’s fifty day moving average price is $24.16 and its 200-day moving average price is $22.45.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Weiss Ratings raised shares of RYTHM from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Wall Street Zen upgraded RYTHM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Insider Buying and Selling at RYTHM

In other RYTHM news, Director Max Holtzman sold 5,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $26.00, for a total value of $130,000.00. Following the sale, the director owned 5,000 shares in the company, valued at approximately $130,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Armon Vakili sold 2,250 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $26.52, for a total value of $59,670.00. Following the completion of the sale, the director directly owned 10,850 shares of the company’s stock, valued at approximately $287,742. The trade was a 17.18% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.48% of the stock is owned by company insiders.

Institutional Trading of RYTHM

An institutional investor recently bought a new stake in RYTHM stock. Geode Capital Management LLC purchased a new position in shares of RYTHM, Inc. (NASDAQ:RYM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 13,729 shares of the company’s stock, valued at approximately $293,000. Geode Capital Management LLC owned about 0.64% of RYTHM as of its most recent filing with the SEC. Institutional investors and hedge funds 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.