Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $8.10, but opened at $8.59. Applied Digital shares last traded at $8.15, with a volume of 5,908,512 shares trading hands.
Analyst Upgrades and Downgrades
APLD has been the topic of a number of recent analyst reports. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Northland Securities boosted 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 shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price on the stock. HC Wainwright boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $12.11.
Check Out Our Latest Stock Analysis on APLD
Applied Digital Trading Up 2.0 %
The company has a market cap of $1.78 billion, a price-to-earnings ratio of -4.62 and a beta of 4.77. The business's fifty day moving average price is $8.41 and its 200 day moving average price is $7.67. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.08. The company had revenue of $63.87 million for 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 in the previous year, the business earned ($0.05) earnings per share. Research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Activity at Applied Digital
In other news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.81% of the stock is owned by company insiders.
Institutional Investors Weigh In On Applied Digital
Several hedge funds and other institutional investors have recently made changes to their positions in APLD. Polar Asset Management Partners Inc. bought a new stake in Applied Digital in the 4th quarter worth about $510,000. Mackenzie Financial Corp bought a new stake in Applied Digital in the 4th quarter worth about $92,000. GTS Securities LLC bought a new stake in Applied Digital in the 4th quarter worth about $196,000. Two Seas Capital LP bought a new stake in Applied Digital in the 4th quarter worth about $5,062,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Applied Digital by 271.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 343,260 shares of the company's stock worth $2,623,000 after purchasing an additional 250,944 shares in the last quarter. 65.67% of the stock is owned by 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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