Forafric Global PLC (NASDAQ:AFRI) Sees Large Decline in Short Interest

Forafric Global PLC (NASDAQ:AFRI) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 299,700 shares, a decrease of 6.7% from the October 15th total of 321,300 shares. Based on an average daily volume of 9,200 shares, the short-interest ratio is currently 32.6 days. Approximately 5.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Forafric Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFRI. Barclays PLC raised its position in shares of Forafric Global by 57.1% in the third quarter. Barclays PLC now owns 15,522 shares of the company’s stock valued at $176,000 after purchasing an additional 5,641 shares during the period. State Street Corp grew its stake in Forafric Global by 2.0% in the 3rd quarter. State Street Corp now owns 50,236 shares of the company’s stock valued at $570,000 after buying an additional 1,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Forafric Global by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 69,758 shares of the company’s stock worth $791,000 after acquiring an additional 4,361 shares during the period. 5.49% of the stock is currently owned by institutional investors and hedge funds.

Forafric Global Stock Performance

NASDAQ AFRI opened at $10.16 on Monday. Forafric Global has a fifty-two week low of $9.63 and a fifty-two week high of $12.00. The stock’s 50-day moving average is $10.77 and its two-hundred day moving average is $10.89.

Forafric Global Company Profile

Forafric Global PLC engages in the purchase, storage, transport, processing, and sale of agricultural commodities and commodity products in Morocco, Burkina, Mali, Angola, and internationally. The company provides wheat flours and semolina; and secondary processing products, such as pasta and couscous under the TRIA and MayMouna brand names.