Shares of sustainable food company AppHarvest (NASDAQ:APPH) continue to see elevated investor interest. The stock has risen nearly 144% over the past month and is up a further 12% today.
At the same time, while short interest in APPH stands at nearly 23% at present, trade volume over the past ten days has averaged at ~4.5 million. In comparison, over the last three months, this average was 2.5 million.
Earlier this week, APPH initiated commercial shipments from its 60-acre indoor farm in Richmond, Ky. With this development, the company now has four commercial shipping farms and its focus now shifts from construction and development to business-focused operations.
Moreover, earlier this month, APPH appointed its Board member Tony Martin as its Chief Operating Officer. Mr. Martin will now work towards optimizing production, top line, and costs across the company’s 165-acre farm network.
Wall Street currently has a Hold consensus rating on the stock alongside an average price target of $2. This points to a further 43.88% potential upside in the stock on top of the massive gains in APPH shares so far.
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