Forafric Global (NASDAQ:AFRI) Trading Up 0.2% – Time to Buy?

Forafric Global PLC (NASDAQ:AFRI) shares traded up 0.2% on Friday . The company traded as high as $10.03 and last traded at $10.00. 10,948 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 11,449 shares. The stock had previously closed at $9.98.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Forafric Global from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Forafric Global Price Performance

The firm’s 50 day moving average price is $9.94 and its two-hundred day moving average price is $10.06. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 2.97.

Forafric Global (NASDAQ:AFRI) last announced its earnings results on Friday, May 15th. The company reported ($0.04) earnings per share for the quarter. The firm had revenue of $44.57 million for the quarter.

Institutional Trading of Forafric Global

A number of institutional investors have recently added to or reduced their stakes in AFRI. Barclays PLC raised its position 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 acquiring an additional 4,068 shares during the last quarter. Charles Schwab Investment Management Inc. acquired a new position in Forafric Global during the fourth quarter worth about $159,000. Los Angeles Capital Management LLC acquired a new position in Forafric Global during the fourth quarter worth about $103,000. Bank of America Corp DE raised its position in Forafric Global by 5.0% during the third quarter. Bank of America Corp DE now owns 24,285 shares of the company’s stock worth $211,000 after acquiring an additional 1,156 shares during the last quarter. Finally, Sei Investments Co. raised its position in Forafric Global by 35.9% during the third quarter. Sei Investments Co. now owns 13,621 shares of the company’s stock worth $118,000 after acquiring an additional 3,598 shares during the last quarter. Hedge funds and other institutional investors own 5.49% of the company’s stock.

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.