During the last session, AppHarvest Inc. (NASDAQ:APPH)’s traded shares were 1.33 million. The 52-week high for the APPH share is $4.84, that puts it down -952.17 from that peak though still a striking 10.87% gain since the share price plummeted to a 52-week low of $0.41. The company’s market capitalization is $77.98M, and the average intraday trading volume over the past 10 days was 1.75 million shares, and the average trade volume was 2.02 million shares over the past three months.
AppHarvest Inc. (NASDAQ:APPH) trade information
AppHarvest Inc. (APPH) registered a -0.86% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.86% in intraday trading to $0.46 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -12.38%, and it has moved by 4.78% in 30 days. Based on these gigs, the overall price performance for the year is -84.97%. The short interest in AppHarvest Inc. (NASDAQ:APPH) is 21.26 million shares and it means that shorts have 10.25 day(s) to cover.
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The consensus price target of analysts on Wall Street is $1.50, which implies an increase of 69.33% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $2.00 respectively. As a result, APPH is trading at a discount of -334.78% off the target high and -117.39% off the low.
AppHarvest Inc. (APPH) estimates and forecasts
Statistics show that AppHarvest Inc. has outperformed its competitors in share price, compared to the industry in which it operates. AppHarvest Inc. (APPH) shares have gone down -62.30% during the last six months, with a year-to-date growth rate more than the industry average at 46.97% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 21.40% this quarter and then jump 39.10% in the quarter after that. In the rating firms’ projections, revenue will increase 200.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $15.3 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $4 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.36 million and $1.2 million respectively. In this case, analysts expect current quarter sales to grow by 251.10% and then jump by 233.30% in the coming quarter.
While earnings are projected to return 3.00% in 2023.
AppHarvest Inc. is due to release its next quarterly earnings on May 10. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
AppHarvest Inc. (NASDAQ:APPH)’s Major holders
AppHarvest Inc. insiders own 17.02% of total outstanding shares while institutional holders control 22.49%, with the float percentage being 27.10%. Alyeska Investment Group, L.p. is the largest shareholder of the company, while 192 institutions own stock in it. As of Mar 30, 2023, the company held over 9.17 million shares (or 5.91% of all shares), a total value of $5.62 million in shares.
The next largest institutional holding, with 8.4 million shares, is of BNP Paribas Asset Management Holding S.A.’s that is approximately 5.42% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $5.14 million.
Also, the Mutual Funds coming in first place with the largest holdings of AppHarvest Inc. (APPH) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 2.35 million shares. This amounts to just over 1.52 percent of the company’s overall shares, with a $1.34 million market value. The same data shows that the other fund manager holds slightly less at 1.69 million, or about 1.09% of the stock, which is worth about $1.72 million.