Applied Digital (APLD) to Release Quarterly Earnings on Wednesday

Applied Digital (NASDAQ:APLD - Get Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, October 9th. Analysts expect Applied Digital to post earnings of ($0.28) per share for the quarter. Individual interested in participating in the company's earnings conference call can do so using this link.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.29). Applied Digital had a negative return on equity of 111.80% and a negative net margin of 88.95%. The company had revenue of $43.70 million for the quarter, compared to analysts' expectations of $42.70 million. During the same period in the prior year, the business earned ($0.07) EPS. On average, analysts expect Applied Digital to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Applied Digital Stock Performance

Applied Digital stock traded up $0.25 during mid-day trading on Wednesday, reaching $8.33. 5,358,652 shares of the company were exchanged, compared to its average volume of 6,428,847. The firm's 50-day simple moving average is $5.04 and its two-hundred day simple moving average is $4.62. Applied Digital has a twelve month low of $2.36 and a twelve month high of $8.78. The firm has a market cap of $1.14 billion, a PE ratio of -10.23 and a beta of 4.51. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08.

Insider Activity

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total value of $55,000.00. Following the sale, the director now directly owns 218,506 shares in the company, valued at $1,201,783. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.50% of the company's stock.

Wall Street Analyst Weigh In

APLD has been the topic of a number of analyst reports. B. Riley lifted their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, September 13th. HC Wainwright reiterated a "buy" rating and set a $5.00 price target on shares of Applied Digital in a research note on Thursday, August 29th. Roth Mkm restated a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Thursday, September 5th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, September 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has a consensus rating of "Buy" and a consensus price target of $8.40.

Applied Digital Company Profile

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.