Shares of Applied Digital Co. (NASDAQ:APLD - Get Free Report) dropped 3.2% on Thursday . The stock traded as low as $6.27 and last traded at $6.41. Approximately 4,203,189 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 27,452,146 shares. The stock had previously closed at $6.62.
Analyst Ratings Changes
APLD has been the subject of several research analyst reports. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald decreased their target price on Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Finally, HC Wainwright boosted their target price on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital presently has a consensus rating of "Buy" and a consensus target price of $12.11.
Read Our Latest Research Report on Applied Digital
Applied Digital Price 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 business has a fifty day simple moving average of $8.11 and a 200 day simple moving average of $7.82. The stock has a market capitalization of $1.56 billion, a P/E ratio of -4.05 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, topping analysts' consensus estimates of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The company's revenue was up 51.3% compared to the same quarter last year. On average, analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current year.
Insider Transactions at Applied Digital
In related news, Director Richard N. Nottenburg sold 20,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
Several institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. lifted its stake in Applied Digital by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after purchasing an additional 1,500 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Applied Digital by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock worth $90,000 after acquiring an additional 1,692 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position 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 acquiring an additional 2,000 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Applied Digital by 8.8% during the third quarter. Wellington Management Group LLP now owns 37,411 shares of the company's stock worth $309,000 after acquiring an additional 3,040 shares in the last quarter. Finally, Amalgamated Bank lifted its position in shares of Applied Digital by 113.3% during the fourth quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after acquiring an additional 3,473 shares in the last quarter. Hedge funds and other 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.
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