Applied Digital Co. (NASDAQ:APLD - Get Free Report) rose 2.4% during trading on Monday . The stock traded as high as $7.34 and last traded at $7.17. Approximately 4,802,809 shares traded hands during trading, a decline of 82% from the average daily volume of 27,015,619 shares. The stock had previously closed at $7.00.
Analyst Upgrades and Downgrades
APLD has been the subject of a number of recent analyst reports. Compass Point started coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. Cantor Fitzgerald lowered their price objective 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. HC Wainwright boosted their target price on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, Needham & Company LLC restated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $12.11.
Get Our Latest Stock Report on APLD
Applied Digital Stock Performance
The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -4.09 and a beta of 4.69. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a fifty day moving average price of $7.96 and a 200-day moving average price of $7.89.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 business 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 company posted ($0.05) earnings per share. The company's revenue for the quarter 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 fiscal year.
Insider Buying and Selling
In related news, Director Richard N. Nottenburg sold 20,000 shares of the company's 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 transaction, the director now owns 342,923 shares of the company's stock, valued at $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.81% of the stock is currently owned by corporate insiders.
Institutional Trading of Applied Digital
Several large investors have recently bought and sold shares of APLD. Vanguard Group Inc. grew its holdings in Applied Digital by 39.1% in the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Applied Digital by 113.8% in the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after purchasing an additional 2,344,572 shares during the period. Tidal Investments LLC raised its holdings in shares of Applied Digital by 14,635.7% in the 4th quarter. Tidal Investments LLC now owns 1,697,850 shares of the company's stock worth $12,972,000 after purchasing an additional 1,686,328 shares during the period. American Century Companies Inc. purchased a new position in shares of Applied Digital in the 4th quarter worth about $12,843,000. Finally, Geode Capital Management LLC raised its holdings in shares of Applied Digital by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the period. Institutional investors and hedge funds 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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