RYTHM (NASDAQ:RYM) Trading Up 2% – Still a Buy?

RYTHM, Inc. (NASDAQ:RYM) shares traded up 2% on Tuesday . The stock traded as high as $24.17 and last traded at $23.43. 8,147 shares traded hands during trading, a decline of 34% from the average daily volume of 12,310 shares. The stock had previously closed at $22.96.

Analyst Ratings Changes

A number of research firms recently issued reports on RYM. Wall Street Zen upgraded RYTHM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of RYTHM in a research report on Thursday, August 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

RYTHM Trading Down 0.4%

The company has a market capitalization of $50.34 million, a P/E ratio of -2.18 and a beta of 9.47. The business’s 50-day simple moving average is $22.72 and its 200 day simple moving average is $22.93.

RYTHM (NASDAQ:RYM) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.09 earnings per share (EPS) for the quarter. RYTHM had a negative net margin of 6.20% and a negative return on equity of 12.57%. The business had revenue of $23.02 million during the quarter.

Insider Buying and Selling

In other RYTHM news, Director Max Holtzman sold 5,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $130,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Armon Vakili sold 2,250 shares of RYTHM stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $26.52, for a total value of $59,670.00. Following the transaction, the director owned 10,850 shares in the company, valued at approximately $287,742. This trade represents a 17.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC bought a new stake in RYTHM in the fourth quarter worth about $213,000. Concurrent Investment Advisors LLC lifted its holdings in RYTHM by 95.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 22,100 shares of the company’s stock valued at $563,000 after acquiring an additional 10,779 shares during the last quarter. Finally, Geode Capital Management LLC bought a new position in shares of RYTHM during the 4th quarter valued at about $293,000. 5.98% of the stock is owned by institutional investors and hedge funds.

RYTHM Company Profile

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.