AppHarvest (APPH) Scheduled to Post Quarterly Earnings on Thursday

AppHarvest (NASDAQ:APPH – Get Rating) will be posting its quarterly earnings results after the market closes on Thursday, March 9th. Analysts expect AppHarvest to post earnings of ($0.30) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

AppHarvest Trading Down 7.8 %

Shares of APPH opened at $0.94 on Thursday. The stock has a market capitalization of $101.47 million, a P/E ratio of -0.56 and a beta of 2.64. The company has a quick ratio of 1.96, a current ratio of 2.34 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $1.31 and a two-hundred day simple moving average of $1.65. AppHarvest has a twelve month low of $0.47 and a twelve month high of $7.05.

Analyst Upgrades and Downgrades

Several research analysts have commented on APPH shares. Oppenheimer lowered shares of AppHarvest from an “outperform” rating to a “market perform” rating in a report on Friday, December 2nd. Cowen decreased their price objective on shares of AppHarvest from $9.00 to $2.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Finally, Barclays lowered shares of AppHarvest from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 8th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new position in shares of AppHarvest in the 4th quarter worth about $26,000. Geneos Wealth Management Inc. increased its stake in shares of AppHarvest by 284.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 5,383 shares of the company’s stock worth $28,000 after acquiring an additional 3,983 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of AppHarvest by 36.7% in the 4th quarter. Alliancebernstein L.P. now owns 55,100 shares of the company’s stock worth $31,000 after acquiring an additional 14,800 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of AppHarvest by 420.6% in the 1st quarter. Captrust Financial Advisors now owns 6,523 shares of the company’s stock worth $35,000 after acquiring an additional 5,270 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in shares of AppHarvest by 1,189.2% in the 4th quarter. Penserra Capital Management LLC now owns 74,000 shares of the company’s stock worth $41,000 after acquiring an additional 68,260 shares in the last quarter. 31.73% of the stock is currently owned by institutional investors.

AppHarvest Company Profile

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AppHarvest, Inc, an applied agricultural technology company, develops and operates indoor farms to grow non-GMO produce free of chemical pesticide residues. Its products include tomatoes; and other fruits and vegetables, such as berries, peppers, cucumbers, and salad greens. The company was incorporated in 2018 and is based in Morehead, Kentucky.