Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price was up 7.4% during trading on Monday . The company traded as high as $7.69 and last traded at $7.59. Approximately 6,604,657 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 26,206,820 shares. The stock had previously closed at $7.07.
Analyst Ratings Changes
A number of research analysts recently weighed in on APLD shares. Cantor Fitzgerald dropped their price target on 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 upped their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. HC Wainwright boosted their price target on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research note on Monday, February 24th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $12.11.
View Our Latest Stock Report on Applied Digital
Applied Digital Stock Down 6.1 %
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 company's 50-day simple moving average is $7.88 and its two-hundred day simple moving average is $8.01. The firm has a market cap of $1.37 billion, a PE ratio of -3.54 and a beta of 4.69.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating 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 firm had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The company's revenue for the quarter was up 51.3% compared to the same quarter last year. On average, analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the company'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 transaction, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This 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 this hyperlink. Corporate insiders own 11.81% of the company's stock.
Institutional Trading of Applied Digital
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLD. Wilmington Savings Fund Society FSB boosted its holdings in shares of Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Applied Digital in the 4th quarter worth approximately $36,000. US Bancorp DE purchased a new position in Applied Digital in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp purchased a new position in Applied Digital in the fourth quarter worth $39,000. Finally, Spire Wealth Management acquired a new position in shares of Applied Digital during the fourth quarter valued at about $43,000. 65.67% of the stock is owned by hedge funds and other institutional investors.
Applied Digital Company Profile
(
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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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