Applied Digital Co. (NASDAQ:APLD) Receives $10.67 Average PT from Analysts

Applied Digital Co. (NASDAQ:APLD - Get Free Report) has earned an average rating of "Buy" from the nine analysts that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued a report on the stock in the last year is $10.67.

APLD has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of Applied Digital in a research report on Wednesday, April 23rd. HC Wainwright reduced their price target on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Cantor Fitzgerald reduced their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Northland Securities raised their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, Compass Point initiated coverage on Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock.

Applied Digital Trading Up 0.2 %

APLD traded up $0.01 during mid-day trading on Monday, reaching $4.71. The stock had a trading volume of 29,788,599 shares, compared to its average volume of 28,808,168. The stock has a market capitalization of $1.06 billion, a P/E ratio of -2.72 and a beta of 5.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm's fifty day simple moving average is $6.34 and its two-hundred day simple moving average is $7.67. Applied Digital has a 52 week low of $2.63 and a 52 week high of $12.48.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The firm had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same quarter in the previous year, the business posted ($0.24) earnings per share. On average, equities analysts predict that Applied Digital will post -0.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in APLD. Barclays PLC increased its position in Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after buying an additional 428,428 shares during the period. Virtu Financial LLC bought a new position in Applied Digital during the 3rd quarter worth $2,030,000. Tidal Investments LLC bought a new position in Applied Digital during the 3rd quarter worth $95,000. JPMorgan Chase & Co. increased its position in Applied Digital by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,355 shares of the company's stock worth $465,000 after buying an additional 8,774 shares during the period. Finally, Gunderson Capital Management Inc. acquired a new stake in shares of Applied Digital during the 4th quarter worth $83,000. Institutional investors own 65.67% of the company's stock.

Applied Digital Company Profile

Applied 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.