AppHarvest Inc. [APPH] is -76.97% lower this YTD. Is it still time to buy?

AppHarvest Inc. [NASDAQ: APPH] traded at a low on 11/29/22, posting a -8.77 loss after which it closed the day’ session at $0.90. The company report on November 22, 2022 that AppHarvest kicks off third season of commercial shipments of tomatoes ahead of schedule from Morehead, Ky., 60-acre high-tech indoor farm.

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AppHarvest Campari tomatoes.

The results of the trading session contributed to over 3575625 shares changing hands. Over the past one week, the price volatility of AppHarvest Inc. stands at 13.22% while the volatility over the past one month is 10.43%.

The market cap for APPH stock reached $102.73 million, with 107.90 million shares outstanding and 82.78 million shares in the current float. Compared to the average trading volume of 1.50M shares, APPH reached a trading volume of 3575625 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $5.33 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 2.00. 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.

Barclays have made an estimate for AppHarvest Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 08, 2022. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on August 26, 2021, representing the official price target for AppHarvest Inc. stock. Previously, the target price had yet another raise to $25, while Barclays analysts kept a Overweight rating on APPH stock.

The Average True Range (ATR) for AppHarvest Inc. is set at 0.15, with the Price to Sales ratio for APPH stock in the period of the last 12 months amounting to 7.84. The Price to Book ratio for the last quarter was 0.28, with the Price to Cash per share for the same quarter was set at 0.32.

How has APPH stock performed recently?

AppHarvest Inc. [APPH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.57. With this latest performance, APPH shares dropped by -57.34% in over the last four-week period, additionally sinking by -71.65% over the last 6 months – not to mention a drop of -82.30% 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 19.69, with the RSI for the last a single of trading hit 13.08, and the three-weeks RSI is set at 24.25 for AppHarvest Inc. [APPH]. The present Moving Average for the last 50 days of trading for this stock 1.6826, while it was recorded at 1.0575 for the last single week of trading, and 3.2502 for the last 200 days.

AppHarvest Inc. [APPH]: Deeper insight into the 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 2.00 and a Current Ratio set at 2.30.

Insider trade positions for AppHarvest Inc. [APPH]

There are presently around $34 million, or 38.00% 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 6,798,673, which is approximately 0.112% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 4,894,013 shares of the stock with an approximate value of $4.38 million in APPH stocks shares; and VANGUARD GROUP INC, currently with $3.23 million in APPH stock with ownership of nearly 18.067% of the company’s market capitalization.

Positions in AppHarvest Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 87 institutional holders increased their position in AppHarvest Inc. [NASDAQ:APPH] by around 3,352,200 shares. Additionally, 59 investors decreased positions by around 8,615,276 shares, while 38 investors held positions by with 25,895,097 shares. The mentioned changes placed institutional holdings at 37,862,573 shares, according to the latest SEC report filing. APPH stock had 24 new institutional investments in for a total of 478,555 shares, while 36 institutional investors sold positions of 8,291,038 shares during the same period.


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