AFC Gamma (NASDAQ:AFCG) Shares Down 2.7% – Here’s Why

Shares of AFC Gamma Inc. (NASDAQ:AFCG) dropped 2.7% during trading on Monday . The company traded as low as $2.17 and last traded at $2.20. Approximately 158,352 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 217,103 shares. The stock had previously closed at $2.26.

Analysts Set New Price Targets

Several equities analysts have recently commented on AFCG shares. Weiss Ratings restated a “sell (d)” rating on shares of AFC Gamma in a research report on Wednesday, January 21st. Zacks Research raised shares of AFC Gamma to a “hold” rating in a research note on Thursday, November 13th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, AFC Gamma currently has an average rating of “Reduce” and an average target price of $5.75.

AFC Gamma Price Performance

The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. The business’s 50-day simple moving average is $2.57 and its two-hundred day simple moving average is $3.30. The firm has a market cap of $49.70 million, a price-to-earnings ratio of -2.12 and a beta of 1.02.

Insider Buying and Selling

In other AFC Gamma news, Director Leonard M. Tannenbaum bought 25,000 shares of the stock in a transaction on Thursday, December 11th. The stock was acquired at an average cost of $3.05 per share, for a total transaction of $76,250.00. Following the completion of the acquisition, the director owned 5,861,098 shares in the company, valued at $17,876,348.90. This trade represents a 0.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased a total of 169,000 shares of company stock worth $495,140 over the last ninety days. Company insiders own 25.10% of the company’s stock.

About AFC Gamma

AFC Gamma, Inc is a specialty finance real estate investment trust that focuses on providing structured financing solutions to companies operating and developing digital infrastructure and life science real estate assets. As a REIT, AFC Gamma seeks to generate attractive risk-adjusted returns through a diversified portfolio of loans, preferred equity and other financing structures that are secured by tangible property collateral or contractual revenue streams.

The company’s primary business activities include originating, acquiring and managing secured loans and equity investments that support wireless and broadband network deployment, data center expansion, and life sciences facility development.