Applied Digital Co. (NASDAQ:APLD - Get Free Report) fell 2.9% during trading on Thursday . The company traded as low as $7.02 and last traded at $7.47. 7,564,279 shares traded hands during trading, a decline of 73% from the average session volume of 28,243,416 shares. The stock had previously closed at $7.69.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the company. HC Wainwright lifted 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. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company. Northland Securities lifted their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Cantor Fitzgerald reduced their price target on Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a report 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 report on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $12.11.
Get Our Latest Stock Report on APLD
Applied Digital Price Performance
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 50 day moving average of $8.26 and a two-hundred day moving average of $7.78. The firm has a market capitalization of $1.62 billion, a P/E ratio of -4.20 and a beta of 4.69.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 51.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. Sell-side analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.81% of the company's stock.
Institutional Trading of Applied Digital
Several institutional investors have recently modified their holdings of the company. Vontobel Holding Ltd. grew its holdings in shares of Applied Digital by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock worth $128,000 after purchasing an additional 1,500 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Applied Digital by 16.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock valued at $90,000 after buying an additional 1,692 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after buying an additional 2,000 shares in the last quarter. Wellington Management Group LLP boosted its stake in Applied Digital by 8.8% in the 3rd quarter. Wellington Management Group LLP now owns 37,411 shares of the company's stock valued at $309,000 after buying an additional 3,040 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Applied Digital by 113.3% in the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock valued at $50,000 after buying an additional 3,473 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.
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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