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.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Compass Point began coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price on the stock. Northland Securities lifted their price target on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald cut their price objective on Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Finally, HC Wainwright lifted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $12.11.
Read Our Latest Stock Analysis on Applied Digital
Applied Digital Price Performance
The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock's fifty day moving average is $7.56 and its 200-day moving average is $8.00. The stock has a market capitalization of $1.26 billion, a PE ratio of -3.27 and a beta of 4.69.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share 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 analyst estimates of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. Applied Digital's revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) EPS. As a group, equities analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Richard N. Nottenburg sold 20,000 shares of the business'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 of the company's stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.81% of the company's stock.
Institutional Trading of Applied Digital
Several institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB lifted its stake in Applied Digital by 100.0% in 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 in the last quarter. R Squared Ltd acquired a new position in shares of Applied Digital during the fourth quarter valued at approximately $36,000. US Bancorp DE purchased a new position in shares of Applied Digital in the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital in the fourth quarter worth approximately $39,000. Finally, Spire Wealth Management purchased a new stake in shares of Applied Digital during the fourth quarter worth approximately $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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