AppHarvest (NASDAQ:APPH) Hits New 1-Year Low at $5.26

Shares of AppHarvest, Inc. (NASDAQ:APPH) hit a new 52-week low during trading on Monday . The stock traded as low as $5.26 and last traded at $5.29, with a volume of 2996 shares changing hands. The stock had previously closed at $5.36.

APPH has been the subject of a number of analyst reports. Zacks Investment Research lowered AppHarvest from a “buy” rating to a “hold” rating in a research report on Wednesday, August 11th. Oppenheimer began coverage on AppHarvest in a research note on Wednesday, August 25th. They set an “outperform” rating and a $10.00 price target for the company. Finally, Cowen cut their price target on AppHarvest from $32.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 12th.

The business has a fifty day moving average of $7.20 and a 200-day moving average of $12.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 12.50 and a current ratio of 12.56.

AppHarvest (NASDAQ:APPH) last announced its quarterly earnings data on Tuesday, August 10th. The company reported ($0.32) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.10). The company had revenue of $3.14 million during the quarter. As a group, analysts expect that AppHarvest, Inc. will post -1.31 earnings per share for the current fiscal year.

In other AppHarvest news, President David J. Lee acquired 14,000 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the transaction, the president now owns 1,562,040 shares in the company, valued at $11,152,965.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ciara Burnham acquired 14,150 shares of the business’s stock in a transaction dated Friday, August 20th. The stock was acquired at an average price of $7.06 per share, for a total transaction of $99,899.00. Following the completion of the transaction, the director now owns 14,150 shares in the company, valued at approximately $99,899. The disclosure for this purchase can be found here.

Several hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of AppHarvest by 7.4% in the 2nd quarter. FMR LLC now owns 13,573,325 shares of the company’s stock worth $217,173,000 after buying an additional 935,715 shares during the last quarter. Inclusive Capital Partners L.P. bought a new stake in shares of AppHarvest during the first quarter valued at approximately $215,916,000. Alyeska Investment Group L.P. bought a new stake in shares of AppHarvest during the first quarter valued at approximately $112,971,000. Vanguard Group Inc. boosted its position in shares of AppHarvest by 7.2% during the second quarter. Vanguard Group Inc. now owns 5,354,244 shares of the company’s stock valued at $85,668,000 after purchasing an additional 360,927 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of AppHarvest by 88.6% during the second quarter. BlackRock Inc. now owns 4,515,385 shares of the company’s stock valued at $72,245,000 after purchasing an additional 2,121,347 shares in the last quarter. Hedge funds and other institutional investors own 50.05% of the company’s stock.

AppHarvest Company Profile (NASDAQ:APPH)

AppHarvest, Inc, a development stage company, builds and operates high-tech greenhouses to grow fruits and vegetables in the United States. Its products include tomatoes and leafy greens. The company was founded in 2018 and is based in Morehead, Kentucky.

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