Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price was up 3% during trading on Tuesday . The company traded as high as $5.80 and last traded at $5.79. Approximately 4,918,222 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 25,997,205 shares. The stock had previously closed at $5.62.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on APLD. HC Wainwright boosted their target price 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. Needham & Company LLC reissued a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a research note on Monday, February 24th. 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 note on Wednesday, January 15th. 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. Finally, Compass Point began 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. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.11.
View Our Latest Report on APLD
Applied Digital Price Performance
The stock has a 50 day moving average of $7.48 and a 200-day moving average of $7.98. 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 stock has a market capitalization of $1.10 billion, a P/E ratio of -2.84 and a beta of 5.18.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.08. The business had revenue of $63.87 million during 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 business's revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period last year, the company earned ($0.05) earnings per share. On average, equities research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Transactions at Applied Digital
In other news, Director Richard N. Nottenburg sold 20,000 shares of the 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 approximately $3,034,868.55. This represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.81% of the company's stock.
Institutional Investors Weigh In On Applied Digital
Hedge funds have recently modified their holdings of the business. Wilmington Savings Fund Society FSB raised its stake in Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd purchased a new position in shares of Applied Digital in the 4th quarter valued at $36,000. US Bancorp DE bought a new position in shares of Applied Digital in the 4th quarter worth $37,000. Jones Financial Companies Lllp bought a new stake in Applied Digital during the fourth quarter valued at about $39,000. Finally, Spire Wealth Management bought a new position in Applied Digital in the fourth quarter worth about $43,000. 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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