Intellectus Partners LLC Sells 6,750 Shares of AppHarvest, Inc. (NASDAQ:APPH)

Intellectus Partners LLC trimmed its stake in shares of AppHarvest, Inc. (NASDAQ:APPH) by 12.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,100 shares of the company’s stock after selling 6,750 shares during the quarter. Intellectus Partners LLC’s holdings in AppHarvest were worth $738,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC boosted its position in AppHarvest by 7.4% during the second quarter. FMR LLC now owns 13,573,325 shares of the company’s stock worth $217,173,000 after purchasing an additional 935,715 shares during the period. Inclusive Capital Partners L.P. acquired a new stake in shares of AppHarvest during the first quarter worth $215,916,000. Alyeska Investment Group L.P. acquired a new stake in shares of AppHarvest during the first quarter worth $112,971,000. Vanguard Group Inc. raised its stake in AppHarvest by 7.2% in the second quarter. Vanguard Group Inc. now owns 5,354,244 shares of the company’s stock valued at $85,668,000 after purchasing an additional 360,927 shares in the last quarter. Finally, BlackRock Inc. raised its stake in AppHarvest by 88.6% in the second quarter. BlackRock Inc. now owns 4,515,385 shares of the company’s stock valued at $72,245,000 after purchasing an additional 2,121,347 shares in the last quarter. 50.05% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on APPH shares. Cowen lowered their target price on AppHarvest from $32.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, August 12th. Barclays assumed coverage on AppHarvest in a report on Wednesday, June 16th. They set an “overweight” rating and a $25.00 price target on the stock. Zacks Investment Research cut AppHarvest from a “buy” rating to a “hold” rating in a report on Wednesday, August 11th. Finally, Oppenheimer began coverage on AppHarvest in a report on Wednesday, August 25th. They issued an “outperform” rating and a $10.00 target price on the stock.

In other news, Director Ciara Burnham acquired 14,150 shares of the firm’s stock in a transaction that occurred on Friday, August 20th. The shares were bought at an average cost of $7.06 per share, with a total value of $99,899.00. Following the acquisition, the director now owns 14,150 shares in the company, valued at approximately $99,899. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President David J. Lee acquired 14,000 shares of the firm’s stock in a transaction that occurred on Monday, August 16th. The shares were purchased at an average cost of $7.14 per share, for a total transaction of $99,960.00. Following the completion of the acquisition, the president now owns 1,562,040 shares in the company, valued at approximately $11,152,965.60. The disclosure for this purchase can be found here.

Shares of NASDAQ:APPH traded up $0.13 during trading on Thursday, reaching $5.91. 19,071 shares of the stock were exchanged, compared to its average volume of 1,970,423. The stock has a fifty day moving average of $7.59 and a two-hundred day moving average of $12.61. AppHarvest, Inc. has a 1-year low of $5.35 and a 1-year high of $42.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 12.56 and a quick ratio of 12.50.

AppHarvest (NASDAQ:APPH) last released its quarterly earnings results on Tuesday, August 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.10). The company had revenue of $3.14 million during the quarter. Sell-side analysts forecast that AppHarvest, Inc. will post -1.31 EPS for the current fiscal year.

About AppHarvest

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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Institutional Ownership by Quarter for AppHarvest (NASDAQ:APPH)

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