ALPP stock is in freefall, having lost 82.96% in the past year. In the weekly time frame, a decline of 24.23% can be seen; and the loss was 33.63% over the month.
Alpine 4 Holdings, Inc. (ALPP) Stock Price Analysis
In the 52-week time frame, ALPP stock peaked at $6.9600 and traded at $0.8560. Alpine 4 Holdings, Inc. has a market capitalization of $22.82 Million. At the time of publication, ALPP stock prices were trading below the 20, 50, 100, and 200-day EMAs.
The annual price target of Alpine 4 stock is $5.00, which is approximately 484.11% greater than its current trading price. The MACD line is moving parallel to the signal line, reflecting mild negativity, but the histogram suggests that buyers are trying hard to recapture lost positions.
The RSI line seems to be approaching oversold territory. Since September 5, 2023, constant selling pressure has been troubling the ALPP stock.
News Related to Alpine 4 Holdings, Inc.
On September 6, 2023, Alpine 4 Holdings, Inc. revealed that it secured new contracts totaling $5.1 Million to back the construction of Stellantis and Samsung SDI’s lithium-ion battery production plants.
The contract includes mechanical installation for advanced production lines and heating, ventilation, and air conditioning safety measures. As per expectations, a surge is expected in ALPP’s stock price in the coming weeks.
Alpine 4 Holdings, Inc. Financial Updates
Alpine 4 Holdings, Inc. impressed investors by reporting 9.04% more revenue than estimated figures in the second quarter of 2023. The estimated revenue of the company was $25.07 Million.
However, the reported EPS was negative $0.15, but the company failed to meet expectations and reported 20% less EPS. The estimated revenue for the upcoming quarter is $29.60 Million, and EPS is negative $0.13.
From the reported revenue of 2022, the net income of Alpine 4 Holdings, Inc. was negative $12.88 Million, and the profit margin was negative 12.31%.
TradingView data states that 23.027 Million ALPP shares are free-floating and the remaining 4.94% are closely held.
Conclusion
ALPP stock has been declining steadily for the past year, losing 82.96% of its trading value. The MACD line is an intersecting signal line in the negative region. As per market analysts, a short-term bounce is expected. However, Alpine stock will take longer to regain lost positions.
Technical Levels
Support Levels: $0.8560 and $0.8100
Resistance Levels: $0.9300 and $0.9999
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/09/20/bulls-lose-grip-over-alpine-holdings-alpp-sheds-16-weekly/