Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. AppHarvest Inc. shares valued at $216,428 were sold by Lee David J. on Nov 21. At $1.22 per share, Lee David J. sold 177,400 shares. The insider’s holdings dropped to 561,140 shares worth approximately $0.4 million following the completion of this transaction.
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Also, Lee David J. sold 42,392 shares, netting a total of over 74,186 in proceeds. Following the sale of shares at $1.75 each, the insider now holds 1,192,109 shares.
Before that, Nelson Julie had sold 7,632 shares from its account. In a trade valued at $24,546, the Chief Operating Officer traded AppHarvest Inc. shares for $3.22 each. Upon closing the transaction, the insider’s holdings decreased to 7,632 shares, worth approximately $58481.28.
As published in a research note from Oppenheimer on December 02, 2022, AppHarvest Inc. [APPH] has been rated down from an Outperform to a Perform. Analysts at Barclays downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in early November. As of August 26, 2021, Oppenheimer has initiated its “an Outperform” rating for APPH. Earlier on June 16, 2021, Barclays initiated its rating. Their recommendation was “an Overweight” for APPH stock.
Analyzing APPH Stock Performance
On Thursday, AppHarvest Inc. [NASDAQ: APPH] rose 2.15% to $0.71. The stock’s lowest price that day was $0.685, but it reached a high of $0.72 in the same session. During the last five days, there has been a drop of approximately -8.83%. Over the course of the year, AppHarvest Inc. shares have jumped approximately 25.33%. Shares of the company reached a 52-week high of $2.6600 on 01/30/23 and a 52-week low of $0.5900 on 01/03/23. A 50-day SMA is recorded $1.3325, while a 200-day SMA reached $2.1314. Nevertheless, trading volume fell to 1.42 million shares from 3.28 million shares the previous day.
Support And Resistance Levels for AppHarvest Inc. (APPH)
According to the 24-hour chart, there is a support level at 0.6907, which, if violated, would cause prices to drop to 0.6704. In the upper region, resistance lies at 0.7257. The next price resistance is at 0.7404. RSI (Relative Strength Index) is 36.23 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1301, which suggests the price will decrease in the coming days. Percent R is at 75.85%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is AppHarvest Inc. subject to short interest?
Stocks of AppHarvest Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -2.57 million shares to 16.89 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 19.46 million shares. A decline of -15.22% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.06 of the overall float, the days-to-cover ratio (short ratio) decline to 4.06.
Which companies own the most shares of AppHarvest Inc. (APPH)?
According to BNP Paribas Asset Management UK L filings, the company currently owns 8,220,863 shares, which is about 5.58% of the total APPH shares outstanding. The investor’s shares have appreciated by 1,422,190 from its previous 13-F filing of 6798673.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $4,510,434. The Vanguard Group, Inc. acquire a 2.19% interest valued at $3.67 million while SSgA Funds Management, Inc. sold a -518,847 stake. A total of 50,450 shares of AppHarvest Inc. were sold by Geode Capital Management LLC during the quarter, and 1,225,088 were bought by Jane Street Capital LLC. In its current portfolio, Alyeska Investment Group LP holds 1,056,731 shares valued at $1.08 million.
In terms of AppHarvest Inc. share price expectations, FactSet research, analysts set an average price target of $1.63 in the next 12 months, up nearly 132.86% from the previous closing price of $0.70. Analysts anticipate AppHarvest Inc. stock to reach $2.00 by 2023, with the lowest price target being $1.25. In spite of this, 3 analysts ranked AppHarvest Inc. stock as an Overweight at the end of 2023. On February 11, 2021, Cowen assigned a price target of “an Outperform” to the stock and initiated coverage with a $42.