Applied Digital Co. (NASDAQ:APLD - Get Free Report) traded up 7.4% during mid-day trading on Monday . The stock traded as high as $7.69 and last traded at $7.59. 6,604,657 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 26,206,820 shares. The stock had previously closed at $7.07.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Northland Securities upped their price target on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. HC Wainwright raised their price target on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Compass Point started coverage on Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. Cantor Fitzgerald cut their target price 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $12.11.
Check Out Our Latest Research Report on Applied Digital
Applied Digital Trading Down 6.2 %
The firm has a market cap of $1.28 billion, a PE ratio of -3.31 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 stock's 50 day simple moving average is $7.76 and its 200 day simple moving average is $8.00.
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 (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The business had revenue of $63.87 million during 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%. The company's revenue was up 51.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, sell-side analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm'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 sale, the director now owns 342,923 shares of the company's stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.81% of the stock is owned by corporate insiders.
Institutional Trading of Applied Digital
A number of institutional investors have recently modified their holdings of APLD. Vanguard Group Inc. raised its position in Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Applied Digital by 113.8% during the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after acquiring an additional 2,344,572 shares in the last quarter. Tidal Investments LLC lifted its stake in Applied Digital by 14,635.7% in the fourth quarter. Tidal Investments LLC now owns 1,697,850 shares of the company's stock worth $12,972,000 after acquiring an additional 1,686,328 shares during the period. American Century Companies Inc. purchased a new stake in Applied Digital in the fourth quarter worth $12,843,000. Finally, Geode Capital Management LLC boosted its holdings in Applied Digital by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after acquiring an additional 1,665,335 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.
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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