Forafric Global PLC (NASDAQ:AFRIW) Sees Large Increase in Short Interest

Forafric Global PLC (NASDAQ:AFRIW) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 40,112 shares, an increase of 1,015.2% from the July 30th total of 3,597 shares. Based on an average daily volume of 14,057 shares, the days-to-cover ratio is currently 2.9 days.

Forafric Global Price Performance

AFRIW remained flat at $1.15 during trading on Thursday. The company’s stock had a trading volume of 3,375 shares, compared to its average volume of 12,026. Forafric Global has a 52 week low of $0.27 and a 52 week high of $1.40. The company’s fifty day simple moving average is $0.89 and its two-hundred day simple moving average is $0.80.

Forafric Global Company Profile

Forafric Global Corp (NASDAQ: AFRIW) is a Delaware-incorporated special purpose acquisition company formed in 2021 with the objective of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses in Africa. As a blank check company, Forafric Global does not currently conduct any operating business, instead raising capital through its initial public offering on the Nasdaq to pursue acquisition targets that leverage technological innovation to drive growth across the continent’s emerging markets.

The company’s strategy focuses on sectors including financial technology, digital infrastructure, telecommunications, renewable energy and e-commerce platforms.