Applied Digital Co. (NASDAQ:APLD - Get Free Report) shares fell 7.2% during trading on Friday . The company traded as low as $5.55 and last traded at $5.66. 10,584,400 shares traded hands during trading, a decline of 60% from the average session volume of 26,285,844 shares. The stock had previously closed at $6.10.
Analyst Ratings Changes
A number of brokerages recently commented on APLD. 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 on the stock. Cantor Fitzgerald lowered their target price 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. HC Wainwright increased their price target on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Wednesday, January 15th. Northland Securities lifted 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. Finally, Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $12.11.
Read Our Latest Stock Report on APLD
Applied Digital Stock Down 1.7 %
The stock's 50 day moving average is $7.76 and its 200 day moving average is $8.01. The company 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.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the business posted ($0.05) earnings per share. The business's quarterly revenue was up 51.3% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
Insider Transactions at Applied Digital
In related news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.81% of the company's stock.
Institutional Trading of Applied Digital
Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. increased its position in shares of Applied Digital by 72.5% in the third quarter. Victory Capital Management Inc. now owns 19,535 shares of the company's stock worth $161,000 after purchasing an additional 8,212 shares during the last quarter. Intech Investment Management LLC purchased a new position in Applied Digital in the 3rd quarter worth approximately $115,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Applied Digital by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company's stock worth $7,419,000 after buying an additional 240,554 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Applied Digital by 14.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,064 shares of the company's stock valued at $355,000 after buying an additional 5,423 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Applied Digital during the 3rd quarter worth $283,000. Hedge funds and other institutional investors 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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