Forafric Global (NASDAQ:AFRI) Earns “Sell (D-)” Rating from Weiss Ratings

Forafric Global (NASDAQ:AFRI)‘s stock had its “sell (d-)” rating reaffirmed by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Forafric Global Price Performance

Shares of Forafric Global stock opened at $8.60 on Wednesday. The stock has a 50 day moving average of $8.39 and a 200 day moving average of $8.15. Forafric Global has a 12 month low of $7.47 and a 12 month high of $11.20.

Hedge Funds Weigh In On Forafric Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Forafric Global by 28.6% during the second quarter. Bank of America Corp DE now owns 23,129 shares of the company’s stock valued at $180,000 after buying an additional 5,143 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Forafric Global by 197.1% during the second quarter. Russell Investments Group Ltd. now owns 13,527 shares of the company’s stock valued at $106,000 after buying an additional 8,974 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Forafric Global in the 1st quarter valued at approximately $87,000. Sei Investments Co. bought a new stake in shares of Forafric Global in the 2nd quarter valued at approximately $78,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Forafric Global by 2,854.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,263 shares of the company’s stock valued at $49,000 after purchasing an additional 6,051 shares during the last quarter. 5.49% of the stock is owned by institutional investors.

Forafric Global Company Profile

Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco, Burkina, Mali, Angola, and internationally. The company provides wheat flours and semolina; and secondary processing products, such as pasta and couscous under the TRIA and MayMouna brand names.