AppHarvest Inc. [NASDAQ: APPH] stock went on a downward path that fall over -2.14% on Friday, amounting to a one-week price decrease of less than -8.36%. The company report on August 3, 2022 that AppHarvest announces Q2 2022 results showing continued improvements in core operations, progress to quadruple farm network and securing nondilutive expansion capital.
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Tomatoes from AppHarvest’s flagship 60-acre high-tech indoor farm in Morehead, Ky.
Company achieves net sales of $4.4 million on 6.0 million pounds of tomatoes sold in Q2 2022, a 39% YoY increase.
Over the last 12 months, APPH stock dropped by -66.59%. The one-year AppHarvest Inc. stock forecast points to a potential upside of 57.85. The average equity rating for APPH stock is currently 1.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $299.84 million, with 109.43 million shares outstanding and 69.74 million shares in the current float. Compared to the average trading volume of 1.23M shares, APPH stock reached a trading volume of 730490 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $6.50 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 0.21, with the Price to Sales ratio for APPH stock in the period of the last 12 months amounting to 22.89. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 0.47.
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 -8.36. With this latest performance, APPH shares dropped by -27.89% in over the last four-week period, additionally sinking by -38.98% over the last 6 months – not to mention a drop of -66.59% 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 31.98, with the RSI for the last a single of trading hit 24.73, and the three-weeks RSI is set at 36.91 for AppHarvest Inc. [APPH]. The present Moving Average for the last 50 days of trading for this stock 3.66, while it was recorded at 2.85 for the last single week of trading, and 3.98 for the last 200 days.
Insight into AppHarvest Inc. Fundamentals:
AppHarvest Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.
AppHarvest Inc. [APPH] Insider Position Details
There are presently around $119 million, or 43.60% of APPH stock, in the hands of institutional investors. The top three institutional holders of APPH stocks are: BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. with ownership of 6,791,072, which is approximately 17.187% of the company’s market cap and around 2.10% of the total institutional ownership; INCLUSIVE CAPITAL PARTNERS, L.P., holding 5,798,704 shares of the stock with an approximate value of $15.89 million in APPH stocks shares; and BLACKROCK INC., currently with $13.13 million in APPH stock with ownership of nearly 11.578% of the company’s market capitalization.
78 institutional holders increased their position in AppHarvest Inc. [NASDAQ:APPH] by around 8,000,017 shares. Additionally, 78 investors decreased positions by around 2,843,105 shares, while 36 investors held positions by with 32,480,106 shares. The mentioned changes placed institutional holdings at 43,323,228 shares, according to the latest SEC report filing. APPH stock had 25 new institutional investments in for a total of 998,837 shares, while 31 institutional investors sold positions of 821,184 shares during the same period.