Shares of Applied Digital Co. (NASDAQ:APLD - Get Free Report) traded down 3.7% during trading on Friday . The stock traded as low as $6.99 and last traded at $7.02. 3,394,034 shares changed hands during trading, a decline of 87% from the average session volume of 26,302,871 shares. The stock had previously closed at $7.29.
Analyst Ratings Changes
A number of research analysts recently issued reports on APLD shares. Cantor Fitzgerald dropped their target price on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research 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 research report on Monday, February 24th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. HC Wainwright increased their price target on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Finally, Northland Securities boosted their price objective on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $12.11.
Check Out Our Latest Research Report on APLD
Applied Digital Price Performance
The stock has a market cap of $1.78 billion, a PE ratio of -4.62 and a beta of 4.69. 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 business has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $7.98.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $63.87 million for the quarter, compared to analysts' expectations of $62.41 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The business's revenue was up 51.3% on a year-over-year basis. Research analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm's stock in a transaction 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 completion of the sale, the director now directly owns 342,923 shares of the company's stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.81% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in APLD. Wilmington Savings Fund Society FSB lifted its holdings in Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd bought a new position in Applied Digital in the 4th quarter worth approximately $36,000. US Bancorp DE purchased a new position in Applied Digital in the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp bought a new stake in Applied Digital during the 4th quarter valued at $39,000. Finally, Spire Wealth Management purchased a new stake in shares of Applied Digital during the fourth quarter worth $43,000. Institutional investors own 65.67% of the company's stock.
Applied Digital Company Profile
(
Get Free Report)
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.
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