Oppenheimer analyst Kristen Owen downgraded AppHarvest to Perform from Outperform without a price target, citing increased going-concern disclosures and broader CEA industry growing pains. Owen sees AppHarvest entering into a critical execution phase as it ramps its three new facilities, and believes recent restructuring actions have resulted in more scarce access to operational management expertise, the analyst tells investors in a research note.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on APPH:
- Largest borrow rate increases among liquid names
- AppHarvest announces Q3 2022 results and makes significant progress in bringing four-farm network consisting of 165 acres online by end of year
- AppHarvest opens 30-acre high-tech indoor farm to grow strawberries and cucumbers in Somerset, Ky.
- AppHarvest appoints Appalachian Regional Healthcare CEO Hollie Phillips to board of directors
- AppHarvest opens 15-acre high-tech indoor salad greens farm featuring touchless growing system with autonomous harvesting to supply new “Queen of Greens®” washed-and-ready-to-eat packaged salad brand
