A Guide To The Risks Of Investing In AFC Gamma Inc. (AFCG)


In a filing, AFC Gamma Inc. revealed its Chief Executive Officer TANNENBAUM LEONARD M acquired Company’s shares for reported $0.54 million on May 15. In the deal valued at $10.45 per share,51,309 shares were bought. As a result of this transaction, TANNENBAUM LEONARD M now holds 3,633,527 shares worth roughly $ 48.07 million.

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Then, Tannenbaum Robyn bought 125,000 shares, generating $1,296,500 in total proceeds. Upon buying the shares at $10.37, the President now owns 3,582,218 shares.

Before that, TANNENBAUM LEONARD M bought 80,000 shares. AFC Gamma Inc. shares valued at $831,200 were divested by the Chief Executive Officer at a price of $10.39 per share. As a result of the transaction, TANNENBAUM LEONARD M now holds 3,582,218 shares, worth roughly $47.39 million.

JMP Securities downgraded its AFC Gamma Inc. [AFCG] rating to a Mkt perform from a a Mkt outperform in a research note published on Friday.

Price Performance Review of AFCG

On Friday, AFC Gamma Inc. [NASDAQ:AFCG] saw its stock fall -0.23% to $13.23. On the same session, the stock had its day’s lowest price of $13.10, but rose to a high of $13.35. Over the last five days, the stock has gained 2.08%. AFC Gamma Inc. shares have fallen nearly -15.89% since the year began. Nevertheless, the stocks have fallen -23.92% over the past one year. While a 52-week high of $17.72 was reached on 01/13/23, a 52-week low of $9.91 was recorded on 05/11/23. SMA at 50 days reached $13.10, while 200 days put it at $13.82. A total of 91156.0 shares were traded, compared to the trading of 0.16 million shares in the previous session.

Levels Of Support And Resistance For AFCG Stock

The 24-hour chart illustrates a support level at 13.10, which if violated will result in even more drops to 12.98. On the upside, there is a resistance level at 13.35. A further resistance level may holdings at 13.48. The Relative Strength Index (RSI) on the 14-day chart is 53.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 26.38%. Stochastics %K at 80.94% indicates the stock is a selling.

How much short interest is there in AFC Gamma Inc.?

A steep rise in short interest was recorded in AFC Gamma Inc. stocks on Aug 14, 2023, dropping by 79710.0 shares to a total of 0.52 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.6 million shares. There was a decline of -15.41%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.20% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.64.

AFC Gamma Inc. [AFCG] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 1,209,664 shares, or roughly 5.91% of the outstanding AFCG shares. In other words, the investor’s shares have risen by 122,454 from its previous 13-F filing of 1087210.0. Additionally, ETF Managers Group LLC increased 25.63% of its stake after which the total value it holdings stand at $15,569,626, while The Vanguard Group, Inc. added 0.38% of its stake to hold $11.62 million in the firm. Over the last quarter, Wasatch Advisors, Inc. sold -246,190 shares of AFC Gamma Inc., while SSgA Funds Management, Inc. sold 3,744 shares. At present, Fuh Hwa Securities Investment Tru is holding 199,023 shares valued at $2.75 million. Renaissance Technologies LLC owned 181,500 shares of the company at the time of its most recent 13F filing, worth $2.51 million.

According to FactSet, AFC Gamma Inc.’s share price will average $17.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 31.98 percent from its previous closing price of $13.26. Analysts expect AFC Gamma Inc. stock to reach the higher price of $25.00, while the lowest price estimate is $10.00. However, 5 analysts have rated AFCG stock as an Overweight in their predictions for 2023.


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