BNP Paribas Asset Management UK Increases Position in Appharvest (APPH)

Fintel reports that BNP Paribas Asset Management UK has filed a 13G/A form with the SEC disclosing ownership of 8.22MM shares of Appharvest Inc (APPH). This represents 7.62% of the company.

In their previous filing dated January 31, 2022 they reported 5.20MM shares and 5.17% of the company, an increase in shares of 58.03% and an increase in total ownership of 2.45% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 151.57% Upside

As of January 31, 2023, the average one-year price target for Appharvest is $5.61. The forecasts range from a low of $2.02 to a high of $9.45. The average price target represents an increase of 151.57% from its latest reported closing price of $2.23.

The projected annual revenue for Appharvest is $62MM, an increase of 369.33%. The projected annual EPS is $-0.89.

Fund Sentiment

There are 260 funds or institutions reporting positions in Appharvest. This is a decrease of 20 owner(s) or 7.14%.

Average portfolio weight of all funds dedicated to US:APPH is 0.0301%, a decrease of 47.6525%. Total shares owned by institutions decreased in the last three months by 4.11% to 41,130K shares.

What are large shareholders doing?

APPH / Appharvest Inc Ownership

BNP Paribas Asset Management Holding holds 6,798,673 shares representing 6.30% ownership of the company. In it's prior filing, the firm reported owning 6,791,072 shares, representing an increase of 0.11%. The firm decreased its portfolio allocation in APPH by 41.65% over the last quarter.

Norges Bank holds 3,200,000 shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 2,000,000 shares, representing an increase of 37.50%. The firm decreased its portfolio allocation in APPH by 33.45% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,353,345 shares representing 2.18% ownership of the company. In it's prior filing, the firm reported owning 1,815,100 shares, representing an increase of 22.87%. The firm decreased its portfolio allocation in APPH by 23.71% over the last quarter.

Vident Investment Advisory holds 1,938,214 shares representing 1.80% ownership of the company. In it's prior filing, the firm reported owning 1,664,679 shares, representing an increase of 14.11%. The firm decreased its portfolio allocation in APPH by 28.46% over the last quarter.

ROBO - ROBO Global Robotics and Automation Index ETF holds 1,882,719 shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 1,636,572 shares, representing an increase of 13.07%. The firm decreased its portfolio allocation in APPH by 25.28% over the last quarter.

AppHarvest Background Information
(This description is provided by the company.)

AppHarvest is an applied technology company building some of the world’s largest indoor farms in Appalachia. The Company combines conventional agricultural techniques with cutting-edge technology and is addressing key issues including improving access for all to nutritious food, farming more sustainably, building a home-grown food supply, and increasing investment in Appalachia. The Company’s 60-acre Morehead, KY facility is among the largest indoor farms in the U.S.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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