Applied Digital Co. (NASDAQ:APLD - Get Free Report) 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 Analyst Weigh In
APLD has been the subject of a number of recent research reports. Cantor Fitzgerald reduced their price objective on Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. HC Wainwright lifted 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. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a research note on Monday, February 24th. Compass Point began coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Northland Securities lifted their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $12.11.
View Our Latest Stock Report on Applied Digital
Applied Digital Trading Up 3.7 %
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 company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.20 and a beta of 4.69. The company has a fifty day moving average of $8.26 and a 200-day moving average of $7.78.
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 (EPS) 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 company had revenue of $63.87 million for the quarter, compared to analysts' expectations of $62.41 million. During the same period in the previous year, the firm posted ($0.05) EPS. Applied Digital's revenue was up 51.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Richard N. Nottenburg sold 20,000 shares of the business'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 transaction of $177,000.00. Following the transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.81% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hood River Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 1,464,854 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after purchasing an additional 2,344,572 shares during the last quarter. Finally, Pertento Partners LLP boosted its holdings in shares of 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 last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.
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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