-$0.25 Earnings Per Share Expected for AppHarvest, Inc. (NASDAQ:APPH) This Quarter

Wall Street brokerages predict that AppHarvest, Inc. (NASDAQ:APPHGet Rating) will announce ($0.25) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for AppHarvest’s earnings. AppHarvest posted earnings of ($0.35) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 28.6%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that AppHarvest will report full year earnings of ($1.19) per share for the current year. For the next year, analysts expect that the firm will report earnings of ($1.01) per share. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for AppHarvest.

AppHarvest (NASDAQ:APPHGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.33) by $0.05. The firm had revenue of $3.07 million during the quarter, compared to the consensus estimate of $2.32 million. AppHarvest had a negative net margin of 1,836.31% and a negative return on equity of 27.63%.

Several research firms have recently commented on APPH. Barclays decreased their price objective on AppHarvest from $13.00 to $5.50 in a report on Tuesday, February 22nd. Oppenheimer lowered their price objective on shares of AppHarvest from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Friday, February 25th. Finally, Zacks Investment Research cut shares of AppHarvest from a “hold” rating to a “sell” rating in a report on Tuesday, March 1st.

Large investors have recently modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in AppHarvest by 44.8% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,202,193 shares of the company’s stock valued at $20,237,000 after buying an additional 1,610,695 shares during the last quarter. BlackRock Inc. grew its holdings in shares of AppHarvest by 1.8% in the fourth quarter. BlackRock Inc. now owns 4,292,170 shares of the company’s stock valued at $16,695,000 after acquiring an additional 77,006 shares in the last quarter. BNP Paribas Asset Management Holding S.A. increased its position in shares of AppHarvest by 45.5% during the third quarter. BNP Paribas Asset Management Holding S.A. now owns 3,591,498 shares of the company’s stock valued at $23,417,000 after acquiring an additional 1,122,962 shares during the last quarter. Norges Bank bought a new stake in AppHarvest during the fourth quarter worth $12,448,000. Finally, Vident Investment Advisory LLC purchased a new position in AppHarvest in the third quarter worth $10,448,000. Institutional investors and hedge funds own 47.10% of the company’s stock.

APPH stock opened at $4.70 on Friday. The business’s 50 day moving average price is $4.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.45 and a current ratio of 3.54. AppHarvest has a fifty-two week low of $2.62 and a fifty-two week high of $20.22.

About AppHarvest (Get Rating)

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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