Applied Digital Co. (NASDAQ:APLD - Get Free Report) shares traded up 3.7% during trading on Wednesday . The stock traded as high as $8.58 and last traded at $8.19. 11,309,251 shares changed hands during trading, a decline of 58% from the average session volume of 27,022,111 shares. The stock had previously closed at $7.90.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. HC Wainwright increased their price target 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. Compass Point assumed coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target on the stock. Northland Securities increased their price target 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. Cantor Fitzgerald dropped their price target 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital currently has an average rating of "Buy" and an average target price of $12.11.
Read Our Latest Stock Analysis on Applied Digital
Applied Digital Trading Up 2.0 %
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 business's fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $7.64. The stock has a market capitalization of $1.78 billion, a P/E ratio of -4.62 and a beta of 4.77.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.
Insider Transactions at Applied Digital
In other news, Director Richard N. Nottenburg sold 20,000 shares of the firm'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 transaction, the director now directly owns 342,923 shares of the company's stock, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.81% of the stock is owned by insiders.
Hedge Funds Weigh In On Applied Digital
Several institutional investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in Applied Digital during the 4th quarter valued at about $510,000. Mackenzie Financial Corp bought a new position in Applied Digital during the 4th quarter valued at about $92,000. GTS Securities LLC bought a new position in Applied Digital during the 4th quarter valued at about $196,000. Two Seas Capital LP bought a new position in Applied Digital during the 4th quarter valued at about $5,062,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Applied Digital by 271.8% during 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 valued at $2,623,000 after purchasing an additional 250,944 shares during 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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