Shares of Applied Digital Co. (NASDAQ:APLD - Get Free Report) were up 8.9% during trading on Friday . The stock traded as high as $6.85 and last traded at $6.84. Approximately 6,452,677 shares were traded during trading, a decline of 76% from the average daily volume of 27,203,877 shares. The stock had previously closed at $6.28.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on APLD. Northland Securities raised their target price on 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 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. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Cantor Fitzgerald lowered their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Finally, Compass Point initiated coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $12.11.
Get Our Latest Analysis on APLD
Applied Digital Stock Performance
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 cap of $1.61 billion, a price-to-earnings ratio of -4.17 and a beta of 4.69. The stock has a 50 day moving average price of $8.01 and a two-hundred day moving average price of $7.90.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its 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 for 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%. The company's quarterly revenue was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. Analysts predict that Applied Digital Co. will post -0.96 EPS for the current year.
Insiders Place Their Bets
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
Several institutional investors have recently modified their holdings of APLD. Charles Schwab Investment Management Inc. lifted its stake in Applied Digital by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company's stock valued at $7,419,000 after buying an additional 240,554 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Applied Digital during the third quarter worth $545,000. Rhumbline Advisers lifted its position in Applied Digital by 68.7% in the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock valued at $1,978,000 after acquiring an additional 105,428 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company's stock worth $7,656,000 after purchasing an additional 273,666 shares during the period. Finally, Barclays PLC increased its holdings in Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after purchasing an additional 428,428 shares in the last quarter. Institutional investors own 65.67% of the company's stock.
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.
Further Reading
Before you consider Applied Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.
While Applied Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
