Shares of Applied Digital Co. (NASDAQ:APLD - Get Free Report) have been assigned a consensus rating of "Buy" from the nine research firms that are covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.11.
Several research firms have recently weighed in on APLD. Northland Securities increased their price target on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Compass Point assumed coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. Cantor Fitzgerald dropped their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Finally, HC Wainwright lifted their price target on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th.
Read Our Latest Report on APLD
Applied Digital Stock Performance
Shares of NASDAQ APLD traded up $0.34 during mid-day trading on Thursday, reaching $5.26. 30,984,186 shares of the company's stock were exchanged, compared to its average volume of 26,442,883. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.04 and a beta of 5.18. The firm has a 50-day moving average price of $7.40 and a two-hundred day moving average price of $8.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. Applied Digital has a 52 week low of $2.36 and a 52 week high of $12.48.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. During the same quarter last year, the business posted ($0.05) EPS. Applied Digital's quarterly revenue was up 51.3% compared to the same quarter last year. Analysts predict that Applied Digital will post -0.96 EPS for the current year.
Insider Activity
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
Institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Applied Digital by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company's stock valued at $7,419,000 after acquiring an additional 240,554 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Applied Digital in the third quarter worth approximately $545,000. Rhumbline Advisers raised its holdings in Applied Digital by 68.7% during the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock valued at $1,978,000 after buying an additional 105,428 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company's stock worth $7,656,000 after acquiring an additional 273,666 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after acquiring an additional 428,428 shares during the period. Institutional investors own 65.67% of the company's stock.
About Applied Digital
(
Get Free ReportApplied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.
Featured Articles
Before you consider Applied Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.
While Applied Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
