Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price fell 4.1% during mid-day trading on Tuesday . The company traded as low as $7.00 and last traded at $7.04. 3,700,619 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 26,772,354 shares. The stock had previously closed at $7.34.
Wall Street Analysts Forecast Growth
APLD has been the subject of several recent research reports. HC Wainwright increased their price objective on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Northland Securities raised their target price on shares of 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 initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a report on Monday, February 24th. Finally, Cantor Fitzgerald reduced their price target on Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $12.11.
Check Out Our Latest Stock Analysis on APLD
Applied Digital Trading Down 3.0 %
The business has a fifty day moving average price of $7.93 and a two-hundred day moving average price of $7.91. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.58 billion, a PE ratio of -4.09 and a beta of 4.69.
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. The company had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. Applied Digital's revenue was up 51.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. Analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
Insider Activity at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction dated 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 transaction, the director now directly owns 342,923 shares of the company's stock, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 11.81% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in APLD. Hood River Capital Management LLC lifted its holdings in Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after buying an additional 1,464,854 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after acquiring an additional 3,587,619 shares during the period. Geode Capital Management LLC raised its stake in shares of Applied Digital by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after acquiring an additional 1,665,335 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Applied Digital by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after purchasing an additional 2,344,572 shares during the period. Finally, Pertento Partners LLP increased its holdings in Applied Digital by 49.0% during the 4th quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock worth $19,319,000 after purchasing an additional 831,705 shares during the period. Hedge funds and other 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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