Short Interest in AppHarvest, Inc. (NASDAQ:APPH) Decreases By 8.5%

AppHarvest, Inc. (NASDAQ:APPHGet Rating) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 14,820,000 shares, a decline of 8.5% from the August 15th total of 16,200,000 shares. Approximately 19.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,250,000 shares, the days-to-cover ratio is presently 11.9 days.

Insider Activity

In related news, President David J. Lee sold 43,533 shares of AppHarvest stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $3.78, for a total transaction of $164,554.74. Following the sale, the president now directly owns 1,243,399 shares of the company’s stock, valued at approximately $4,700,048.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Ballast Inc. bought a new stake in AppHarvest in the first quarter valued at $67,000. Independent Advisor Alliance purchased a new position in AppHarvest in the 1st quarter worth about $55,000. CPR Investments Inc. raised its position in AppHarvest by 38.0% in the 1st quarter. CPR Investments Inc. now owns 17,185 shares of the company’s stock worth $92,000 after buying an additional 4,730 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of AppHarvest during the 1st quarter valued at about $117,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of AppHarvest during the 1st quarter valued at about $50,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

AppHarvest Stock Up 1.5 %

AppHarvest stock opened at $2.02 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 1.35 and a debt-to-equity ratio of 0.34. AppHarvest has a 12-month low of $1.93 and a 12-month high of $7.38. The firm’s fifty day moving average is $3.30 and its 200 day moving average is $3.81. The company has a market capitalization of $213.89 million, a PE ratio of -1.24 and a beta of 0.52.

AppHarvest (NASDAQ:APPHGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.02. The company had revenue of $4.36 million during the quarter, compared to the consensus estimate of $6.11 million. AppHarvest had a negative net margin of 1,256.15% and a negative return on equity of 30.67%. During the same quarter in the prior year, the company posted ($0.32) earnings per share. As a group, sell-side analysts predict that AppHarvest will post -1.28 EPS for the current fiscal year.

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.

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