AppHarvest, Inc. (APPH) Gains As Market Dips: What You Should Know

AppHarvest, Inc. (APPH) closed the most recent trading day at $0.57, moving +0.57% from the previous trading session.

AppHarvest, Inc. (APPH) Gains As Market Dips: What You Should Know

AppHarvest, Inc. (APPH - Free Report) closed at $0.57 in the latest trading session, marking a +0.57% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.25%.

Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 5.91%.Coming into today, shares of the company had lost 37.06% in the past month. In that same time, the Business Services sector lost 1.51%, while the S&P 500 lost 2.59%.Investors will be hoping for strength from AppHarvest, Inc. as it approaches its next earnings release.

The company is expected to report EPS of -$0.31, down 10.71% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.2 million, up 36.81% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.12 per share and revenue of $14.2 million. These totals would mark changes of +13.85% and +56.91%, respectively, from last year.Investors should also note any recent changes to analyst estimates for AppHarvest, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently.

With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant.

AppHarvest, Inc. is currently a Zacks Rank #2 (Buy).The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 41% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups.

Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.