AFC Gamma, Inc. (NASDAQ:AFCG) Short Interest Up 34.8% in January

AFC Gamma, Inc. (NASDAQ:AFCG - Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 646,100 shares, a growth of 34.8% from the December 31st total of 479,400 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 174,300 shares, the days-to-cover ratio is currently 3.7 days.

Hedge Funds Weigh In On AFC Gamma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC raised its position in shares of AFC Gamma by 19.7% in the 3rd quarter. Tidal Investments LLC now owns 519,610 shares of the company's stock valued at $5,305,000 after acquiring an additional 85,655 shares during the period. Barclays PLC boosted its holdings in shares of AFC Gamma by 257.0% in the third quarter. Barclays PLC now owns 22,567 shares of the company's stock valued at $231,000 after buying an additional 16,245 shares during the period. McIlrath & Eck LLC bought a new stake in shares of AFC Gamma in the third quarter valued at about $52,000. Geode Capital Management LLC boosted its position in shares of AFC Gamma by 57.8% during the third quarter. Geode Capital Management LLC now owns 24,225 shares of the company's stock worth $248,000 after buying an additional 8,877 shares during the period. Finally, State Street Corp grew its holdings in shares of AFC Gamma by 2.8% during the third quarter. State Street Corp now owns 376,611 shares of the company's stock worth $3,968,000 after buying an additional 10,320 shares in the last quarter. Institutional investors own 26.53% of the company's stock.

AFC Gamma Trading Up 0.7 %

NASDAQ AFCG traded up $0.06 during trading hours on Thursday, hitting $8.19. The company's stock had a trading volume of 37,393 shares, compared to its average volume of 178,209. The stock has a fifty day moving average of $8.89 and a 200 day moving average of $9.53. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $179.77 million, a P/E ratio of 20.45 and a beta of 1.05. AFC Gamma has a twelve month low of $7.94 and a twelve month high of $13.28.

AFC Gamma Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.32 dividend on an annualized basis and a yield of 16.12%. AFC Gamma's dividend payout ratio is presently 330.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AFCG. Seaport Res Ptn upgraded shares of AFC Gamma to a "strong-buy" rating in a research report on Tuesday, October 8th. JMP Securities reiterated a "market perform" rating on shares of AFC Gamma in a research report on Thursday, January 23rd. Finally, Alliance Global Partners initiated coverage on shares of AFC Gamma in a report on Tuesday, December 17th. They issued a "buy" rating and a $13.00 price target for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.67.

AFC Gamma Company Profile

AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other various commercial real estate loans and debt securities for established companies operating in the cannabis industry. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.