Applied Digital Co. (NASDAQ:APLD - Get Free Report) has been assigned an average rating of "Buy" from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $12.11.
Several brokerages recently commented on APLD. HC Wainwright increased their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Cantor Fitzgerald decreased their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. Northland Securities upped their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Finally, Compass Point started coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company.
View Our Latest Research Report on Applied Digital
Insider Buying and Selling at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the sale, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
Several large investors have recently made changes to their positions in APLD. Polar Asset Management Partners Inc. acquired a new stake in Applied Digital during the fourth quarter valued at $510,000. Mackenzie Financial Corp acquired a new stake in shares of Applied Digital during the 4th quarter valued at about $92,000. GTS Securities LLC purchased a new position in shares of Applied Digital in the 4th quarter valued at about $196,000. Two Seas Capital LP acquired a new position in Applied Digital in the 4th quarter worth about $5,062,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Applied Digital by 271.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 343,260 shares of the company's stock worth $2,623,000 after purchasing an additional 250,944 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.
Applied Digital Price Performance
NASDAQ APLD opened at $6.38 on Friday. The firm's fifty day simple moving average is $8.20 and its two-hundred day simple moving average is $7.81. The firm has a market capitalization of $1.42 billion, a P/E ratio of -3.69 and a beta of 4.69. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital has a 12-month low of $2.36 and a 12-month high of $12.48.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same period in the previous year, the business earned ($0.05) EPS. The firm's revenue for the quarter was up 51.3% on a year-over-year basis. Analysts forecast that Applied Digital will post -0.96 EPS for the current fiscal year.
About Applied Digital
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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.
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