What Analysts Say about the AppHarvest Inc. (APPH) Stock

AppHarvest Inc. (NASDAQ:APPH) saw an upside of 5.90% to $5.74 after adding $0.32 on Wednesday. The 5-day average trading volume is 1,306,155 shares of the company’s common stock. It has gained $6.19 in the past week. An average of 1,906,439 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,214,149.

APPH’s 1-month performance is -25.75% or -$1.55 on its low of $5.35 reached on 10/12/21. The company’s shares have touched a 52-week low of $5.35 and high of $42.90, with the stock’s rally to the 52-week high happening on 02/02/21. YTD, APPH has lost -65.37% or -$9.90. However, the current price is down -86.62%% from the 52-week high price.


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Insider Transactions

On Jun 10, 125 days have gone by since the last insider trading activity for AppHarvest Inc. (APPH). UBBEN JEFFREY W (Director) most recently sold 3,000,000 shares at $16.50 per share on Jun 10. This transaction cost the insider $49,500,000. Director, LAIKIN ROBERT J, sold 162,500 shares at a price of $23.19 on Mar 16.

Valuation Metrics

AppHarvest Inc. (APPH) has a trailing price-to-earnings (P/E) ratio of 18.75 for the broader industry and 24.38 for the sector.APPH stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 104.51 while the price-to-book (PB) in the most recent quarter is 1.15.

AppHarvest Inc.’s quick ratio for the period ended June 29 was 12.50, with the current ratio over the same period at 12.60 meaning that APPH stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.15, while the total debt to equity was 0.16.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.0% to $2.3 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected APPH to announce -$0.19 per share in earnings in its latest quarter, but it posted -$0.32, representing a -68.40% surprise. EBITDA for the quarter stood at more than -$37.21 million. APPH stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 122.39 million, with total debt at $79.76 million. Shareholders hold equity totaling $100.28 million

Technical Picture

Let’s look briefly at AppHarvest Inc. (APPH) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 33.35% to suggest the stock is trending Neutral, with historical volatility in this time period at 52.45%.

The stock’s 5-day moving average is $5.67, reflecting a -2.38% or -$0.14 change from its current price. APPH is currently trading -24.84% above its 20-day SMA, -62.86% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -49.91% and -62.64% respectively.

Stochastic %K and %D was 9.94% and 5.92% and the average true range (ATR) pointed at 0.38. The RSI (14) points at 31.63%, while the 14-day stochastic is at 23.81% with the period’s ATR at 0.43. The stock’s 9-day MACD Oscillator is pointing at -0.32 and -0.58 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for AppHarvest Inc. (NASDAQ: APPH), Oppenheimer launched coverage with an Outperform rating. Analysts offering their rating for APPH stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate APPH as a “sell,”, while 0 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 2 have offered a “buy” rating.

What is APPH’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $10.00 and a high of $14.00, with their median price target at $13.00. Looking at these predictions, the average price target given by analysts is for AppHarvest Inc. (APPH) stock is $12.33.

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