RYTHM (NASDAQ:RYM) Releases Quarterly Earnings Results

RYTHM (NASDAQ:RYM) posted its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, FiscalAI reports. RYTHM had a negative return on equity of 56.12% and a negative net margin of 38.99%.The firm had revenue of $23.02 million for the quarter.

RYTHM Stock Performance

Shares of RYTHM stock traded up $3.69 during trading hours on Wednesday, reaching $24.34. 1,924 shares of the company were exchanged, compared to its average volume of 15,450. RYTHM has a 1 year low of $14.00 and a 1 year high of $53.65. The stock’s fifty day moving average is $24.14 and its 200 day moving average is $22.48. The firm has a market cap of $53.06 million, a PE ratio of -1.69 and a beta of 9.47.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RYM shares. Weiss Ratings raised RYTHM from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Wall Street Zen raised shares of RYTHM from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Insiders Place Their Bets

In related news, Director Max Holtzman sold 5,000 shares of RYTHM stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.00, for a total value of $130,000.00. Following the completion of the transaction, the director directly owned 5,000 shares in the company, valued at approximately $130,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Armon Vakili sold 2,250 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $26.52, for a total value of $59,670.00. Following the transaction, the director directly owned 10,850 shares of the company’s stock, valued at $287,742. The trade was a 17.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.48% of the company’s stock.

Hedge Funds Weigh In On RYTHM

An institutional investor recently bought a new position in RYTHM stock. Jane Street Group LLC bought a new stake in RYTHM, Inc. (NASDAQ:RYM) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,968 shares of the company’s stock, valued at approximately $213,000. Jane Street Group LLC owned approximately 0.46% of RYTHM as of its most recent SEC filing. 5.98% of the stock is currently owned by hedge funds and other institutional investors.

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.