Over 0.3 million shares of Agrify Corporation (NASDAQ: AGFY) were traded Tuesday, and the stock closed at $12.29, a gain of $1.43 on the day. Its price on 04/27/21 gained nearly 13.17%, showing a positive weekly performance of 26.05%. The public currently owns 21.13 million shares of AGFY stock and among those 8.14 million shares have been available to trade. Recent developments might give a better insight into the stock’s potential, although there have been no direct news factors influencing the AGFY stock to rise.
Influencing factor:
In the indoor agriculture marketplace, Agrify offers premium grow solutions. AGFY empowers businesses with data, science, and technology so they can run more efficiently, more productively, and intelligently. Providing AGFY customers with the highest quality, consistent, and yield, all while keeping costs low, has made our hardware and software solutions highly advanced and proprietary.
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Recently, Agrify received a purchase order for $3.5 million from LNP, LLC.
- The customer is a regular customer doing business as WhiteCloud Botanicals.
- The purchase order included 132 additional Vertical Farming Units (“VFUs”), new phases of facility design and build-out, and new phases of AGFY’s facility design and build-out.
- A software license agreement, as well as recurring SaaS fees, will facilitate the use of Agrify Insights software platform for three years.
- Construction will begin this month, with completion expected in Q4 of 2021.
Winning strategy:
Agrify (AGFY)’s team provided WhiteCloud with expertise in crop improvement. AGFY also provided WhiteCloud with valuable feedback on different aspects of business strategies including branding, marketing as well as distribution. AGFY succeeded in winning the contract from an existing customer because of these business efforts.