Forafric Global (NASDAQ:AFRI) Posts Earnings Results

Forafric Global (NASDAQ:AFRI) posted its quarterly earnings data on Friday. The company reported ($0.04) earnings per share for the quarter, FiscalAI reports. The firm had revenue of $44.57 million during the quarter.

Forafric Global Stock Down 2.0%

NASDAQ AFRI traded down $0.20 during trading hours on Friday, reaching $10.00. The company’s stock had a trading volume of 9,230 shares, compared to its average volume of 20,889. The firm’s 50-day moving average price is $9.78 and its 200-day moving average price is $9.98. Forafric Global has a 1 year low of $7.47 and a 1 year high of $11.42.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Forafric Global in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of Forafric Global during the 4th quarter worth approximately $159,000. Great Lakes Advisors LLC purchased a new stake in shares of Forafric Global during the 3rd quarter worth approximately $103,000. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Forafric Global during the 1st quarter worth approximately $102,000. 5.49% of the stock is owned by hedge funds and other institutional investors.

About Forafric Global

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.