AppHarvest Inc. [NASDAQ: APPH] price plunged by -1.14 percent to reach at -$0.04. The company report on May 3, 2022 that AppHarvest announces Q1 2022 results with highest quarterly net sales to date, remains on track to open three new high-tech indoor farms by end of 2022.
Company achieves net sales of $5.2 million, reiterates full year net sales outlook of $24.0 to $32.0 million.
Company delivered ~125% increase in net sales for Q1 ‘22 vs. Q1 ‘21.
A sum of 4168496 shares traded at recent session while its average daily volume was at 2.03M shares. AppHarvest Inc. shares reached a high of $3.65 and dropped to a low of $3.04 until finishing in the latest session at $3.46.
The one-year APPH stock forecast points to a potential upside of 49.34. The average equity rating for APPH stock is currently 1.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on AppHarvest Inc. [APPH]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APPH shares is $6.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APPH stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for AppHarvest Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on August 26, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on June 16, 2021, representing the official price target for AppHarvest Inc. stock. Previously, the target price had yet another raise to $42, while Cowen analysts kept a Outperform rating on APPH stock.
The Average True Range (ATR) for AppHarvest Inc. is set at 0.43, with the Price to Sales ratio for APPH stock in the period of the last 12 months amounting to 40.38. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 1.42.
APPH Stock Performance Analysis:
AppHarvest Inc. [APPH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.09. With this latest performance, APPH shares dropped by -33.33% in over the last four-week period, additionally sinking by -39.93% over the last 6 months – not to mention a drop of -76.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APPH stock in for the last two-week period is set at 32.69, with the RSI for the last a single of trading hit 25.85, and the three-weeks RSI is set at 37.74 for AppHarvest Inc. [APPH]. The present Moving Average for the last 50 days of trading for this stock 4.75, while it was recorded at 3.83 for the last single week of trading, and 5.77 for the last 200 days.
Insight into AppHarvest Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and AppHarvest Inc. [APPH] shares currently have an operating margin of -1373.17 and a Gross Margin at -482.67. AppHarvest Inc.’s Net Margin is presently recorded at -1836.31.
Return on Equity for this stock declined to -71.00, with Return on Assets sitting at -50.78.
AppHarvest Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.50.
AppHarvest Inc. [APPH] Insider Position Details
There are presently around $151 million, or 43.90% of APPH stock, in the hands of institutional investors. The top three institutional holders of APPH stocks are: INCLUSIVE CAPITAL PARTNERS, L.P. with ownership of 8,798,704, which is approximately 0% of the company’s market cap and around 1.40% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 5,202,193 shares of the stock with an approximate value of $18.21 million in APPH stocks shares; and VANGUARD GROUP INC, currently with $15.91 million in APPH stock with ownership of nearly -19.931% of the company’s market capitalization.
Positions in AppHarvest Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 90 institutional holders increased their position in AppHarvest Inc. [NASDAQ:APPH] by around 9,001,837 shares. Additionally, 63 investors decreased positions by around 7,634,092 shares, while 28 investors held positions by with 26,623,887 shares. The mentioned changes placed institutional holdings at 43,259,816 shares, according to the latest SEC report filing. APPH stock had 35 new institutional investments in for a total of 3,999,351 shares, while 23 institutional investors sold positions of 699,450 shares during the same period.