AgroFresh Solutions, Inc. (NASDAQ:AGFS) Lowered to “Buy” at BidaskClub

BidaskClub cut shares of AgroFresh Solutions, Inc. (NASDAQ:AGFS) from a strong-buy rating to a buy rating in a report issued on Monday, July 31st.

A number of other research firms also recently weighed in on AGFS. Citigroup Inc. reiterated a neutral rating and set a $9.00 target price (up previously from $6.00) on shares of AgroFresh Solutions in a report on Wednesday, July 12th. ValuEngine upgraded AgroFresh Solutions from a sell rating to a hold rating in a report on Saturday, May 20th.

Shares of AgroFresh Solutions (NASDAQ:AGFS) traded down 0.14% on Monday, reaching $7.01. The company’s stock had a trading volume of 126,192 shares. The company’s market cap is $352.86 million. AgroFresh Solutions has a 12-month low of $1.96 and a 12-month high of $9.05. The company’s 50 day moving average price is $7.82 and its 200 day moving average price is $5.70.

AgroFresh Solutions (NASDAQ:AGFS) last posted its earnings results on Wednesday, August 9th. The basic materials company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.31. AgroFresh Solutions had a negative return on equity of 0.22% and a negative net margin of 43.81%. The firm had revenue of $16.39 million for the quarter. Analysts forecast that AgroFresh Solutions will post $0.11 EPS for the current fiscal year.

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In other news, major shareholder Chemical Co /De/ Dow bought 19,289 shares of AgroFresh Solutions stock in a transaction on Thursday, May 25th. The shares were purchased at an average price of $7.00 per share, for a total transaction of $135,023.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 172,288 shares of company stock worth $1,202,685 in the last quarter. Company insiders own 19.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of AGFS. Dow Chemical Co. DE increased its stake in AgroFresh Solutions by 1.0% in the second quarter. Dow Chemical Co. DE now owns 17,670,356 shares of the basic materials company’s stock valued at $126,874,000 after buying an additional 170,356 shares during the last quarter. Vanguard Group Inc. increased its stake in AgroFresh Solutions by 37.7% in the second quarter. Vanguard Group Inc. now owns 957,609 shares of the basic materials company’s stock valued at $6,876,000 after buying an additional 262,328 shares during the last quarter. Boston Partners increased its stake in AgroFresh Solutions by 2.2% in the first quarter. Boston Partners now owns 542,555 shares of the basic materials company’s stock valued at $2,371,000 after buying an additional 11,465 shares during the last quarter. State Street Corp increased its stake in AgroFresh Solutions by 30.9% in the second quarter. State Street Corp now owns 358,217 shares of the basic materials company’s stock valued at $2,573,000 after buying an additional 84,525 shares during the last quarter. Finally, Northern Trust Corp increased its stake in AgroFresh Solutions by 5.1% in the second quarter. Northern Trust Corp now owns 271,171 shares of the basic materials company’s stock valued at $1,947,000 after buying an additional 13,198 shares during the last quarter. Institutional investors own 72.34% of the company’s stock.

About AgroFresh Solutions

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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