An AppHarvest Inc. (APPH) Director Sells 0.18 million Shares

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AppHarvest Inc. (NASDAQ:APPH) traded with an addition of $0.01 to close at $0.57 on Friday, an upside of 1.05 percent. An average of 1,326,135 shares of common stock have been traded in the last five days. There was a gain of $0.0038 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 2,207,414 shares traded, while the 50-day average volume stands at 2,097,464.

APPH stock has decreased by -37.02% in the last month. The company shares reached their 1-month lowest point of $0.4685 on 12/16/22. With the stock rallying to its 52-week high on 03/23/22, shares of the company touched a low of $0.47 and a high of $7.05 in 52 weeks. It has reached a new high 7 times so far this year and lost -85.50% or -$3.3271 in price. In spite of this, the price is down -91.91% from the 52-week high.

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Insider Transactions

APPH stock investors should be aware that AppHarvest Inc. (APPH) stock had its last reported insider trading activity 39 days ago on Nov 21. In this transaction, the insider spent $216,428. President, Lee David J., disposed of 42,392 shares at a price of $1.75 on Oct 26. The insider now owns more than $74,186 worth of shares. Prior to that, Chief Operating Officer Nelson Julie went on to Sale 7,632 shares at $3.22 each on Aug 16. An amount of $24,546 was transacted.

Valuation Metrics

AppHarvest Inc. (APPH) has a trailing price-to-sales (P/S) ratio at 4.54, the price-to-book (PB) ratio at 0.17.

Financial Health

The quick ratio of AppHarvest Inc. for the three months ended September 29 was 2.00, and the current ratio was 2.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.53 and a total debt to equity ratio of 0.54 for the quarter ending September 29. Its gross profit as reported stood at -$32.89 million compared to revenue of $9.05 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, AppHarvest Inc.’s return on assets was -30.60%.

Earnings Surprise

For the three-month period that ended September 29, AppHarvest Inc. had $181.62 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$23.98 million in the quarter, while revenues of -$28.71 million were shrunk -18.93%. The analyst consensus anticipated AppHarvest Inc.’s latest quarter earnings to come in at -$0.3 per share, but it turned out to be -$0.23, a 23.30% surprise. For the quarter, EBITDA amounted to -$19.1 million. Shareholders own equity worth $107.9 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at AppHarvest Inc. (APPH) price momentum. RSI 9-day as of the close on 29 December was 33.18%, suggesting the stock is Neutral, with historical volatility in this time frame at 301.55%.

As of today, APPH’s price is $0.5783 +0.68% or $0.0038 from its 5-day moving average. APPH is currently trading -37.20% lower than its 20-day SMA and -84.54% lower than its 100-day SMA. However, the stock’s current price level is -65.47% below the SMA50 and -89.86% below the SMA200.

The stochastic %K and %D were 24.72% and 26.09%, respectively, and the average true range (ATR) was 0.0871. With the 14-day stochastic at 26.13% and the average true range at 0.0973, the RSI (14) stands at 30.40%. The stock has reached 0.0012 on the 9-day MACD Oscillator while the 14-day reading was at -0.0413.

Analyst Ratings

Oppenheimer downgraded AppHarvest Inc. (NASDAQ: APPH) to a a Perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform.


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