Forafric Global (NASDAQ:AFRI) Stock Price Down 0.9% – Here’s What Happened

Forafric Global PLC (NASDAQ:AFRI) shares were down 0.9% on Thursday . The stock traded as low as $9.58 and last traded at $9.59. Approximately 3,015 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 4,819 shares. The stock had previously closed at $9.68.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Forafric Global in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Forafric Global Trading Down 0.4%

The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.28 and a current ratio of 0.38. The company has a 50 day simple moving average of $10.02 and a two-hundred day simple moving average of $9.63.

Hedge Funds Weigh In On Forafric Global

Several large investors have recently modified their holdings of AFRI. Russell Investments Group Ltd. raised its holdings in Forafric Global by 16.7% during the 4th quarter. Russell Investments Group Ltd. now owns 49,066 shares of the company’s stock valued at $541,000 after buying an additional 7,007 shares during the period. Mariner LLC boosted its stake in Forafric Global by 17.7% during the fourth quarter. Mariner LLC now owns 15,414 shares of the company’s stock worth $170,000 after buying an additional 2,316 shares during the period. Barclays PLC boosted its stake in Forafric Global by 29.1% during the fourth quarter. Barclays PLC now owns 18,025 shares of the company’s stock worth $199,000 after buying an additional 4,068 shares during the period. Charles Schwab Investment Management Inc. bought a new position in Forafric Global during the fourth quarter valued at $159,000. Finally, Wells Fargo & Company MN increased its position in Forafric Global by 192.1% during the fourth quarter. Wells Fargo & Company MN now owns 6,043 shares of the company’s stock valued at $67,000 after acquiring an additional 3,974 shares during the last quarter. Institutional investors own 5.49% of the company’s stock.

Forafric Global Company Profile

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.