Applied Digital Co. (NASDAQ:APLD - Get Free Report) Director Douglas S. Miller sold 10,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $8.01, for a total value of $80,100.00. Following the completion of the sale, the director now owns 208,506 shares in the company, valued at $1,670,133.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Applied Digital Price Performance
NASDAQ APLD traded up $0.53 during trading hours on Monday, reaching $8.71. 15,478,576 shares of the stock traded hands, compared to its average volume of 6,856,779. The stock has a 50 day simple moving average of $6.02 and a two-hundred day simple moving average of $4.97. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $8.87. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -11.03 and a beta of 4.56.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.13. Applied Digital had a negative return on equity of 107.05% and a negative net margin of 74.95%. The business had revenue of $60.70 million for the quarter, compared to the consensus estimate of $54.85 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company's revenue for the quarter was up 67.2% on a year-over-year basis. On average, analysts predict that Applied Digital Co. will post -1.12 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. grew its stake in shares of Applied Digital by 66.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 774,655 shares of the company's stock valued at $4,609,000 after buying an additional 308,223 shares during the last quarter. Alight Capital Management LP bought a new position in shares of Applied Digital during the second quarter valued at about $3,570,000. Marshall Wace LLP bought a new position in shares of Applied Digital during the second quarter valued at about $720,000. Woodmont Investment Counsel LLC grew its stake in shares of Applied Digital by 4.2% during the first quarter. Woodmont Investment Counsel LLC now owns 250,319 shares of the company's stock valued at $1,071,000 after buying an additional 10,149 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Applied Digital by 70.2% during the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company's stock valued at $26,434,000 after buying an additional 2,547,485 shares during the last quarter. 65.67% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the company. HC Wainwright increased their price objective on Applied Digital from $5.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. Lake Street Capital increased their price objective on Applied Digital from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. B. Riley increased their price objective on Applied Digital from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, September 13th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price objective on shares of Applied Digital in a research report on Thursday. Finally, Roth Mkm restated a "buy" rating and set a $10.00 price target on shares of Applied Digital in a research report on Thursday, October 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $10.50.
View Our Latest Analysis on Applied Digital
About Applied Digital
(
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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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