Applied Digital Co. (NASDAQ:APLD - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $5.72, but opened at $5.34. Applied Digital shares last traded at $5.33, with a volume of 2,454,116 shares changing hands.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on APLD. HC Wainwright increased their price target on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Compass Point assumed coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Northland Securities boosted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Finally, Cantor Fitzgerald decreased their price target 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. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $12.11.
Get Our Latest Stock Analysis on Applied Digital
Applied Digital Price Performance
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 moving average is $7.56 and its two-hundred day moving average is $8.00. The company has a market cap of $1.26 billion, a P/E ratio of -3.27 and a beta of 4.69.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $62.41 million. During the same period in the prior year, the company posted ($0.05) EPS. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. As a group, analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred 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 sale, the director now 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 the SEC website. Corporate insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
A number of institutional investors and hedge funds have recently made changes to their positions in APLD. Wilmington Savings Fund Society FSB raised its holdings in Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after buying an additional 2,000 shares during the period. R Squared Ltd purchased a new stake in shares of Applied Digital in the 4th quarter worth approximately $36,000. US Bancorp DE purchased a new position in Applied Digital during the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp purchased a new stake in Applied Digital during the fourth quarter worth $39,000. Finally, Spire Wealth Management purchased a new stake in Applied Digital during the fourth quarter worth $43,000. 65.67% of the stock is owned by hedge funds and other institutional investors.
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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