Zacks Investment Research upgraded shares of AgroFresh Solutions, Inc. (NASDAQ:AGFS) from a strong sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “AgroFresh Solutions, Inc. is engaged in providing data driven specialty chemical solutions. Its flagship product is the SmartFresh(TM) Quality System, a freshness protection technology proven to maintain firmness, texture and appearance of fruits during storage and transport. AgroFresh Solutions, Inc., formerly known as Boulevard Acquisition Corp., is headquartered in Collegeville, Pennsylvania. “

Separately, Citigroup Inc. cut AgroFresh Solutions from a buy rating to a neutral rating and cut their price objective for the company from $7.00 to $2.75 in a research report on Thursday, November 10th.

Shares of AgroFresh Solutions (NASDAQ:AGFS) opened at 2.74 on Tuesday. The company’s market capitalization is $136.79 million. AgroFresh Solutions has a 12 month low of $1.96 and a 12 month high of $6.95. The company has a 50-day moving average price of $2.82 and a 200-day moving average price of $4.72.

AgroFresh Solutions (NASDAQ:AGFS) last announced its quarterly earnings results on Wednesday, November 9th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. AgroFresh Solutions had a negative return on equity of 1.25% and a negative net margin of 27.23%. The company earned $61.20 million during the quarter, compared to the consensus estimate of $71.47 million. On average, analysts forecast that AgroFresh Solutions will post ($0.85) EPS for the current fiscal year.

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In other AgroFresh Solutions news, CFO Katherine Carolyn Harper acquired 10,000 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was acquired at an average cost of $2.56 per share, for a total transaction of $25,600.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $25,600. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jordi Ferre acquired 10,540 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was acquired at an average price of $2.72 per share, with a total value of $28,668.80. Following the completion of the transaction, the chief executive officer now directly owns 10,540 shares of the company’s stock, valued at $28,668.80. The disclosure for this purchase can be found here. 19.40% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of AGFS. Price T Rowe Associates Inc. MD boosted its stake in AgroFresh Solutions by 55.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 7,445,908 shares of the company’s stock worth $39,389,000 after buying an additional 2,670,411 shares during the period. Northern Trust Corp boosted its stake in shares of AgroFresh Solutions by 3.0% in the third quarter. Northern Trust Corp now owns 230,082 shares of the company’s stock valued at $1,217,000 after buying an additional 6,610 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of AgroFresh Solutions by 1.1% in the third quarter. California State Teachers Retirement System now owns 46,660 shares of the company’s stock valued at $247,000 after buying an additional 500 shares during the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of AgroFresh Solutions by 18.3% in the third quarter. Alpine Woods Capital Investors LLC now owns 57,745 shares of the company’s stock valued at $305,000 after buying an additional 8,925 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of AgroFresh Solutions by 7.4% in the third quarter. Boston Partners now owns 518,448 shares of the company’s stock valued at $2,743,000 after buying an additional 35,862 shares during the last quarter. Institutional investors and hedge funds own 75.08% of the company’s stock.

AgroFresh Solutions Company Profile

AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.

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