Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $7.69, but opened at $7.29. Applied Digital shares last traded at $7.16, with a volume of 2,649,227 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on APLD shares. Compass Point started coverage on shares of Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price for the company. HC Wainwright lifted their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Wednesday, January 15th. Northland Securities upped their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Finally, Cantor Fitzgerald dropped their target price 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 analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital currently has an average rating of "Buy" and an average target price of $12.11.
Get Our Latest Report on Applied Digital
Applied Digital Trading Up 2.2 %
The stock has a market capitalization of $1.42 billion, a PE ratio of -3.69 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 company has a 50 day moving average of $8.23 and a two-hundred day moving average of $7.79.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million during the quarter, compared to analysts' expectations of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business's revenue was up 51.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.05) EPS. Sell-side analysts predict that Applied Digital Co. will post -0.96 EPS for the current year.
Insider Buying and Selling
In related news, Director Richard N. Nottenburg sold 20,000 shares of the company's stock in a transaction on Friday, January 17th. The shares were 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 owns 342,923 shares in the company, valued at $3,034,868.55. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.81% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB increased its position 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 worth $31,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd acquired a new position in shares of Applied Digital during the fourth quarter worth about $36,000. US Bancorp DE acquired a new stake in Applied Digital during the 4th quarter valued at $37,000. Jones Financial Companies Lllp purchased a new position in shares of Applied Digital during the 4th quarter valued at approximately $39,000. Finally, Spire Wealth Management bought a new stake in Applied Digital in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 65.67% of the company's stock.
About Applied Digital
(
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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