Agrify Corporation (AGFY) Stock Is Popping High In Pre-Market: What’s Going On?

By Muhammad Ali

August 4, 2021

Shares of the Agrify Corporation (AGFY) stock are popping high in the pre-market trading session on August 4, 2021. AGFY stock price saw a push of 9.56% to reach $21.31 a share at the time of this writing. It seems that stock is continuing the rising momentum as it went up by 5.53% at the previous closing. Let’s understand the reason behind this bull.

What’s Happening?

Agrify Corporation is the hardware and software solution provider for indoor agriculture in the United States. There is no AGFY stock-specific news to justify the bullish sentiment in today’s date. According to a recent announcement, AGFY stock will release its second-quarter 2021 financial results on August 12, 2021, at 5:00 p.m ET.

Recently Craig-Hallum analyst rated AGFY stock as “Buy” and set a price target of $25 per share. The analyst thinks that this stock will expand by offering its products in the future. Furthermore, he is hopeful that Agrify’s revenue from SaaS will be more than double by 2025.

Agrify University: AGFY stock’s Learning Program

AGFY stock on July 19, 2021, did announce the launch of Agrify University that expands on 3,500 sq. ft. This is the innovative and project-based learning program of Agrify stock equipped with Agrify’s latest farming technology and cultivation methods. The hands-on project-based learning will help cannabis cultivators to cultivate cannabis more efficiently.

David Kessler, Agrify’s Chief Science Officer is leading this project. There will be available on-site, on-demand learning options for people to enhance their knowledge of the latest scientific indoor agriculture methods. The management is optimistic that this project will expand the  Agrify ecosystem.

Financial View of the AGFY stock:

AGFY stock showed extraordinary improvement in its first-quarter 2021 revenue. The revenue was 600% higher as compared to the first quarter 2020 revenue. The sales backlog jumped from $59 million in Q4 2020 to $82 million in Q1 2021. The management expects that its full-year revenue will be between $48 million to $50 million.

Wrap Up:

Agrify stock is hot among investors despite any specific reason. The management is focusing on the expansion and overall growth of the stock. Previous financial results were exceptional in terms of revenue and sales backlog. The upcoming financial results next week will further clarify the position of the stock.

Agrify Announces Launch of Innovative, Project-Based Learning Program, Agrify University

July 19, 2021

Introduces immersive program to assist Agrify customers and next-generation growers in cultivating high-value cannabis with efficiency at scale

Agrify Corporation (NasdaqCM:AGFY) (“Agrify” or the “Company”), a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agricultural marketplace, today announced the opening of Agrify University, a brand new 3,500 sq. ft. state-of-the art indoor vertical farming facility featuring Agrify’s latest technology and advanced cultivation methods. We believe this new immersive, hands-on project-based learning experience will empower Agrify customers and next-generation growers with the knowledge and education to successfully cultivate cannabis with efficiency at scale by leveraging the power of Agrify’s vertical farming units (“VFUs”) and the Agrify Insights software solution.

Located in Billerica, MA, Agrify University, led by David Kessler, Agrify’s Chief Science Officer, and a team of industry experts, horticulturists, and scientists, will provide participants with in-classroom, on-site, and on-demand learning options. The immersive, multi-sensory curriculum will enable customers and growers to expand their knowledge of how to apply novel scientific research, interpret cultivation data, and leverage Agrify’s technology to improve their indoor cannabis cultivation practices.

“The cultivation methods used by many operators have not evolved as quickly as the industry itself, and we see an opportunity to use the power of data and cutting-edge techniques to dramatically improve the quality and yields from indoor cultivation,” said Mr. Kessler. “Agrify University utilizes our vast cannabis research data sets and technological innovation to provide a curriculum that we believe will support the long-term growth of our industry. We’re proud to add this valuable resource to our comprehensive Agrify ecosystem, and we look forward to welcoming our first cohorts.”

Agrify University classes are available now to all customers. For more information on how to apply and on available program resources, please contact Agrify at info@agrify.com.

About Agrify (NasdaqCM:AGFY)
Agrify is a developer of premium grow solutions for the indoor agriculture marketplace. The Company uses data, science, and technology to empower its customers to be more efficient, more productive, and more intelligent about how they run their businesses. Agrify’s highly advanced and proprietary hardware and software solutions have been designed to help its customers achieve the highest quality, consistency, and yield, all at the lowest possible cost. For more information, please visit Agrify’s website at www.agrify.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding Agrify University. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events as well as the curriculum and plans that have been developed for Agrify University. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

Agrify Enters Into Multi-Year Vertical Farming Research And Development Partnership With Curaleaf

Partnership To Study Impact

of Cultivation Environment on

Plant Health And Harvest Yields

July 06, 2021

BILLERICA, Mass

Agrify Corporation (NasdaqCM:AGFY) (“Agrify” or the “Company”), a developer of highly advanced and proprietary precision hardware and software cultivation solutions for the indoor agriculture marketplace, today announced that it has signed a definitive Collaboration Agreement (“the Agreement”) forming a long-term research and development (“R&D”) partnership with Curaleaf Holdings, Inc. (“Curaleaf”). Curaleaf is one of the largest multi-state operators (“MSOs”) in the United States and the largest vertically integrated cannabis company in Europe as Curaleaf International.

The research will be focused on evaluating the impact of certain environmental conditions created and controlled by Agrify’s Vertical Farming Units (“VFUs”) and Agrify Insights™ software platform on harvest yields, plant terpene profiles, and flavonoid concentrations. It will also explore and analyze techniques to enhance the aesthetic appeal, aroma, and overall chemical profile of cannabis flower. In addition, the joint research team plans to study the effect of regulated environments on the overall health and longevity of cannabis plants, including research on the maturation of the chemical profile of the plants over their lifecycle.

“We are thrilled to announce our first MSO collaboration and honored to partner with Curaleaf to advance this important research,” said Raymond Chang, Chief Executive Officer of Agrify. “Curaleaf is a cannabis industry leader, and our shared research will demonstrate the critical importance that an optimally controlled environment can play on the cultivator's ability to consistently produce high-quality flower. I am proud to showcase our cutting-edge indoor vertical farming grow cultivation technology and assist Curaleaf in growing the high-quality, consistent cannabis they are known for in the most cost-effective manner possible.”

“Since our inception, we have been committed to providing our customers with premier and innovative cannabis products and experiences, with a relentless drive for quality,” said Joseph Bayern, Chief Executive Officer of Curaleaf. “The cultivation environment plays a critical role in the plant’s chemical composition, and we believe this research will help to further increase understanding of the conditions required to optimize a plant's genetic potential.”

Under the terms of the Agreement, Agrify will supply its VFUs and provide use of the Company’s Agrify Insights™ software platform for a period of three years at Curaleaf's primary R&D facility located in Massachusetts, with an option to extend another three years. The collaboration combines Agrify’s technology and expertise in creating optimized cultivation environments with Agrify Insights™-based data and Curaleaf’s expertise in cultivation and production of quality cannabis products. All test data collected by Agrify Insights™ will be jointly owned.

About Curaleaf Holdings, Inc.

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is a leading international provider of consumer products in cannabis with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. In the United States, Curaleaf currently operates in 23 states with 107 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 5,000 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cutting-edge cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.

About Agrify (NasdaqCM:AGFY)

Agrify is a developer of premium grow solutions for the indoor agriculture marketplace. The Company uses data, science, and technology to empower its customers to be more efficient, more productive, and more intelligent about how they run their businesses. Agrify’s highly advanced and proprietary hardware and software solutions have been designed to help its customers achieve the highest quality, consistency, and yield, all at the lowest possible cost. For more information, please visit Agrify’s website at www.agrify.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning Agrify and other matters. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the research to be performed under the Agreement. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. You should carefully consider the risks and uncertainties that affect our business, including those described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 with the SEC, which can be obtained on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this communication. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements, whether as a result of any new information, future events or otherwise. You are advised, however, to consult any further disclosures we make on related subjects in our public announcements and filings with the SEC.

Agrify
Niv Krikov
Chief Financial Officer
niv.krikov@agrify.com
(617) 896-5240

Investor Relations
Rob Kelly
ir@mattio.com
(416) 992-4539

Media Contact
Renee Cotsis
renee@mattio.com