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AppHarvest Inc. (NASDAQ:APPH) Falls -5.93%, But An Additional Plunge May Follow.

In last trading session, AppHarvest Inc. (NASDAQ:APPH) saw 4.02 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.11 trading at -$0.07 or -5.93% at ring of the bell on the day assigns it a market valuation of $122.63M. That closing price of APPH’s stock is at a discount of -535.14% from its 52-week high price of $7.05 and is indicating a discount of -4.5% from its 52-week low price of $1.16. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.33 million shares which gives us an average trading volume of 1.41 million if we extend that period to 3-months.

For AppHarvest Inc. (APPH), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 2 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 1 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.3 in the current quarter.

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AppHarvest Inc. (NASDAQ:APPH) trade information

Upright in the red during last session for losing -5.93%, in the last five days APPH remained trading in the red while hitting it’s week-highest on Friday, 11/18/22 when the stock touched $1.11 price level, adding 16.54% to its value on the day. AppHarvest Inc.’s shares saw a change of -71.47% in year-to-date performance and have moved -13.28% in past 5-day. AppHarvest Inc. (NASDAQ:APPH) showed a performance of -37.99% in past 30-days. Number of shares sold short was 16.86 million shares which calculate 11.46 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.50 to the stock, which implies a rise of 68.29% to its current value. Analysts have been projecting $2.00 as a low price target for the stock while placing it at a high target of $5.00. It follows that stock’s current price would drop -350.45% in reaching the projected high whereas dropping to the targeted low would mean a loss of -80.18% for stock’s current value.

AppHarvest Inc. (APPH) estimates and forecasts

Statistics highlight that AppHarvest Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -66.26% of value to its shares in past 6 months, showing an annual growth rate of 13.85% while that of industry is 14.10. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -76.50% in the current quarter and calculating -59.30% decrease in the next quarter. This year revenue growth is estimated to rise 135.40% from the last financial year’s standing.

1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.4 million for the same. And 1 analysts are in estimates of company making revenue of $9.7 million in the next quarter that will end on Dec 2022. Company posted $543k and $3.07 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 157.80% while estimating it to be 216.00% for the next quarter.

APPH Dividends

AppHarvest Inc. is more likely to be releasing its next quarterly report between February 22 and February 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

AppHarvest Inc. (NASDAQ:APPH)’s Major holders

Insiders are in possession of 24.13% of company’s total shares while institution are holding 38.05 percent of that, with stock having share float percentage of 50.14%. Investors also watch the number of corporate investors in a company very closely, which is 38.05% institutions for AppHarvest Inc. that are currently holding shares of the company. Bnp Paribas Asset Management Holding S.a. is the top institutional holder at APPH for having 6.79 million shares of worth $23.7 million. And as of Jun 29, 2022, it was holding 6.41% of the company’s outstanding shares.

The second largest institutional holder is Inclusive Capital Partners, LP, which was holding about 5.8 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 5.48% of outstanding shares, having a total worth of $20.24 million.

On the other hand, Exchange Traded Concepts Tr-Global Robotics & Automation Index ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2022, the former fund manager was holding 1.9 million shares of worth $3.75 million or 1.80% of the total outstanding shares. The later fund manager was in possession of 1.82 million shares on Jun 29, 2022, making its stake of worth around $6.33 million in the company or a holder of 1.71% of company’s stock.

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