AGFY LOW FLOAT 2.58 MILLION Agrify
AGFY
shares rose 19% in recent trading Thursday after the company announced a multimillion-dollar sales agreement with Ocean Deep/Golden Lake Business Park, a California-based cannabis operator, for a hydrocarbon extraction system.
Ocean Deep will use Agrify's turnkey PX30 hydrocarbon extraction lab package to boost product offerings, according to a statement Thursday.
Ocean Deep is also expected to begin operation with 120 of Agrify's vertical farm units to produce cannabis flower this year, the statement said.
AGFY trade ideas
Agrify breaking out; ready to reverse the downtrendHave been watching this one for a bit as it trended down.. Been waiting for a green daily candle to be made completely outside of the downtrend and outside of the triangle, so far today is that day. Also >$26 was my entry PT and it meets that criteria also. Im a BUYER. RSI @45ish up 4%+ today.$30c 10/15s could make some money nat their paltry $2.40 premium.
Agrify starting to Fly!Agrify has sustained amazing revenue growth in first quarter 2021, it increased 600% to record $7 million from January 1st, 2021 to March 31st, 2021.
The revenue exceeded analysts expectations. The earnings are still at a net loss, but that is not uncommon for newly public tech sector companies.
The IPO price on January 28th was $13.50, it then shot up to $21.43 on February 8th at the Height of the tech market.
Most analysts have a target price of $22/ share, but that target was set before knowledge of such impressive revenue growth.
The CEO, Raymond Nobu Chang is an ambitious entrepreneur. The market for cannabis is expected to expand as more states in the US legalize the commodity.
With a low trading volume, this stock could easily take off like a rocket ship. If revenue keeps pace, this stock could easily trade at $60.00 by the end of the year,
especially if the Nasdaq enters a new bull run and a rotation back into growth.
Buy shares now at a discount.
As always, do your own research and due diligence, better to aim with a scope than by the hip.
-Josh
AGFY Technical Analysis 🧙Agrify Corp provides hardware and software to grow solutions for the indoor agriculture marketplace. The products offered by the company include Integrated Grow Racks, LED Grow Lights, Hydroponics, and Vertical Farming Units.
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Money Grows on Trees with AgrifyAgrify was a recent IPO on 1/28/2021 offered at $13.50/share, it shot up to $21.43 on 2/08/2021 at the height of the tech hype when the Nasdaq was at its record of 14,000 points.
Fundamentals: have improved since 2019, revenue is up about 190%. Gross profit was $570,000 for year ended 12/31/2020 vs net loss of ($245,000) for year ending 12/31/2019. Their R&D expenses have increased substantially, almost 30 times since 2019. Their sales and marketing expenses are also up, and Debt has increased based on the amount of interest expense in 2020. These factors indicate Agrify is attempting to expand rapidly.
Next, Agrify has a relatively low share volume of roughly 20 million shares outstanding, rendering the stock susceptible to higher volatility.
Revenue for 2020 were above analysts expectations.
Market Trend: Growing market, cannabis is becoming widely legalized throughout the United States thus expanding the demand for agricultural tools, software, and hardware. The human population is expanding and with it, the demand for food and efficient industrial agricultural practices.
Technicals: lower Resistance at $11.60/ share, 52W low of $10.49, 52 week High of $21.43/ share. Upper resistance at IPO price ($13.50/ share).
Insider Buying based on recently filed SEC Form 4s. Bearish trend that began February 12th, 2021 is beginning to break. Once the $13.50 resistance breaks, expect share prices to reach their next level of resistance at $21.00/ share.
Investor Sentiment for the tech sector: Bearish
Opinion: Based on the aforementioned fundamental and technical analysis, I project that the share prices for Agrify will climb to at least the $20 range by the end of April, should the Nasdaq continue to climb.
I am going long on this stock and have a target price of $63.00/ share.
$AGFY is giving a GREAT IPO LONG opportunity todayIPO intraday trading strategy idea
Agrify is a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace.
The share price is rising and gonna continue this trend today.
The demand for shares of the company still looks higher than the supply.
These and other conditions can cause a rise in the share price today.
So I opened a long position from $13,05;
stop-loss — $11,20;
take-profit — 18,60/MOC price.
Do not view this idea as a recommendation for trading or investing. It is published only to introduce my own vision.
Always do your own analysis before making deals. When you use any materials, do not rely on blind trust.
You should remember that isolated deals do not give systematic profit, so trade/invest using a developed strategy.
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