Applied Digital Co. (NASDAQ:APLD - Get Free Report) dropped 2.4% during mid-day trading on Tuesday . The stock traded as low as $7.66 and last traded at $7.80. Approximately 7,176,387 shares changed hands during trading, a decline of 73% from the average daily volume of 26,156,033 shares. The stock had previously closed at $7.99.
Wall Street Analyst Weigh In
APLD has been the topic of several recent research reports. 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. Northland Securities raised their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald dropped their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Wednesday, January 15th. Compass Point assumed coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective on the stock. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Digital presently has an average rating of "Buy" and a consensus target price of $12.11.
Read Our Latest Research Report on Applied Digital
Applied Digital Price Performance
The firm has a market capitalization of $1.25 billion, a PE ratio of -3.25 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 has a fifty day moving average price of $7.82 and a 200-day moving average price of $7.99.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its 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. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. 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 previous year, the company posted ($0.05) earnings per share. The firm's revenue was up 51.3% on a year-over-year basis. Sell-side analysts forecast that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
Insider Activity at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the 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 sale, the director now directly owns 342,923 shares in the company, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.81% of the stock is currently owned by corporate insiders.
Institutional Trading of Applied Digital
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its holdings in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after purchasing an additional 2,000 shares during the period. R Squared Ltd purchased a new position in Applied Digital during the 4th quarter worth approximately $36,000. US Bancorp DE acquired a new stake in Applied Digital during the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp purchased a new stake in shares of Applied Digital in the 4th quarter valued at $39,000. Finally, Spire Wealth Management acquired a new stake in shares of Applied Digital in the fourth quarter worth $43,000. Institutional investors and hedge funds 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.
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