AppHarvest Inc. (APPH): A Technical View


As of Friday close, AppHarvest Inc.’s (NASDAQ:APPH) stock was down -$0.04, moving down -6.24 percent to $0.67. The average number of shares traded per day over the past five days has been 3,380,700 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.0393 fall in that time frame. In the last twenty days, the average volume was 2,581,405, while in the previous 50 days, it was 4,086,824.

Since last month, APPH stock retreated -31.63%. Shares of the company fell to $0.6000 on 03/13/23, the lowest level in the past month. A 52-week high of $7.05 was reached on 01/30/23 after having rallying from a 52-week low of $0.47. Since the beginning of this year, APPH’s stock price has risen by 17.50% or $0.0993, and marked a new high 10 times. However, the stock has declined by -90.54% since its 52-week high.

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APPH stock investors should be aware that AppHarvest Inc. (APPH) stock had its last reported insider trading activity 117 days ago on Nov 21. Lee David J., the Director of the company, disposed of 177,400 shares for $1.22 on Nov 21. It resulted in a $216,428 divestment by the insider. Lee David J. sold 42,392 shares at an average price of $1.75 on Oct 26. The insider now owns 1,192,109 shares following the transaction. On Aug 16, Chief Operating Officer Nelson Julie sold 7,632 shares at $3.22 apiece. The transaction was valued at $24,546.

Financial Health

In the three months ended September 29, AppHarvest Inc.’s quick ratio stood at 2.00, while its current ratio was 2.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.53, and the total debt-to-equity ratio was 0.54. Based on annual data, APPH earned -$42.4 million in gross profit and brought in $14.59 million in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -38.80%. Return on equity (ROE) for the past 12 months was -45.40%.

In AppHarvest Inc.’s quarter-end financial report for September 29, it reported total debt of $180.54 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. APPH’s revenue fell -48.35% to $0.52 million during the quarter, while net income inched up to $4.55 million. While analysts expected AppHarvest Inc. to report -$0.3 quarterly earnings, the actual figure was -$0.23 per share, beating the consensus estimate by 23.30%. During the quarter, the company generated -$85.08 million in EBITDA. The liabilities of AppHarvest Inc. were 335.04 million at the end of its most recent quarter ended September 29, and its total debt was $187.67 million. The value of shareholders’ equity is $154.89 million.

Technical Picture

This quick technical analysis looks at AppHarvest Inc.’s (APPH) price momentum. With a historical volatility rate of 90.22%, the RSI 9-day stood at 29.90% on 17 March.

With respect to its five-day moving average, the current AppHarvest Inc. price is down by -5.57% percent or -$0.0393. At present, APPH shares trade -28.91% below its 20-day simple moving average and -57.80% percent below its 100-day simple moving average. However, the stock is currently trading approximately -17.32% below its SMA50 and -78.90% below its SMA200.

Stochastic coefficient K was 19.85% and Stochastic coefficient D was 23.60%, while ATR was 0.1025. Given the Stochastic reading of 14.50% for the 14-day period, the RSI (14) reading has been calculated as 34.79%. As of today, the MACD Oscillator reading stands at -0.0500, while the 14-day reading stands at -0.1378.

Analyst Ratings

AppHarvest Inc. downgraded its rating on AppHarvest Inc. (NASDAQ: APPH) to a Perform in a note to investors on December 02, 2022. The analysts firm previously had an Outperform rating on the stock.AppHarvest Inc. (APPH) has been rated Overweight by analysts. According to 0 brokerage firms, APPH is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate AppHarvest Inc. stock as buy, with 1 recommending it as overweight.

With a median target price of $1.63, the current consensus forecast for the stock is $1.25 – $2.00. Based on these forecasts, analysts predict AppHarvest Inc. (APPH) will achieve an average price target of $1.63.


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