BidaskClub Lowers AgroFresh Solutions (AGFS) to Hold

BidaskClub downgraded shares of AgroFresh Solutions (NASDAQ:AGFS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, ValuEngine upgraded shares of AgroFresh Solutions from a sell rating to a hold rating in a research note on Friday, February 2nd.

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Shares of AgroFresh Solutions (NASDAQ:AGFS) opened at $7.08 on Friday. AgroFresh Solutions has a 1-year low of $3.23 and a 1-year high of $9.05. The company has a quick ratio of 2.28, a current ratio of 2.51 and a debt-to-equity ratio of 1.05. The company has a market cap of $357.53, a PE ratio of 15.06 and a beta of 0.78.

AgroFresh Solutions (NASDAQ:AGFS) last issued its quarterly earnings results on Wednesday, March 14th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.13). AgroFresh Solutions had a negative return on equity of 0.15% and a net margin of 14.31%. The firm had revenue of $54.14 million for the quarter.

In other news, major shareholder Dowdupont Inc. purchased 29,617 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were acquired at an average cost of $7.00 per share, for a total transaction of $207,319.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 15.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its stake in shares of AgroFresh Solutions by 26.7% during the second quarter. Nationwide Fund Advisors now owns 17,016 shares of the basic materials company’s stock worth $122,000 after acquiring an additional 3,582 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of AgroFresh Solutions during the third quarter worth about $133,000. The Manufacturers Life Insurance Company increased its stake in shares of AgroFresh Solutions by 332.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 18,310 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 14,073 shares during the period. Wells Fargo & Company MN increased its stake in shares of AgroFresh Solutions by 171.0% during the second quarter. Wells Fargo & Company MN now owns 26,015 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 16,415 shares during the period. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of AgroFresh Solutions during the fourth quarter worth about $237,000. Institutional investors and hedge funds own 36.21% of the company’s stock.

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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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