Applied Digital Co. (NASDAQ:APLD - Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors purchased 16,433 call options on the stock. This represents an increase of 40% compared to the typical volume of 11,719 call options.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, September 9th. B. Riley upped their price objective on Applied Digital from $8.00 to $9.00 and gave the company a "buy" rating in a research note on Friday, September 13th. Roth Mkm reiterated a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a research report on Thursday, September 5th. Finally, HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Applied Digital in a research note on Thursday, August 29th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $8.40.
Check Out Our Latest Stock Report on APLD
Insider Activity at Applied Digital
In related news, Director Douglas S. Miller sold 10,000 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total transaction of $55,000.00. Following the completion of the sale, the director now directly owns 218,506 shares of the company's stock, valued at approximately $1,201,783. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 20.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new position in shares of Applied Digital during the 2nd quarter valued at about $1,451,000. B. Riley Wealth Advisors Inc. boosted its holdings in Applied Digital by 66.1% during the second quarter. B. Riley Wealth Advisors Inc. now owns 774,655 shares of the company's stock worth $4,609,000 after buying an additional 308,223 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Applied Digital by 25.0% during the second quarter. The Manufacturers Life Insurance Company now owns 37,641 shares of the company's stock worth $224,000 after buying an additional 7,517 shares in the last quarter. Alight Capital Management LP acquired a new position in Applied Digital in the second quarter worth approximately $3,570,000. Finally, Marshall Wace LLP bought a new position in shares of Applied Digital in the second quarter valued at $720,000. 65.67% of the stock is owned by institutional investors and hedge funds.
Applied Digital Stock Performance
Shares of Applied Digital stock traded up $0.26 during trading on Wednesday, hitting $6.07. 16,894,613 shares of the stock were exchanged, compared to its average volume of 5,984,103. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08. Applied Digital has a 12 month low of $2.36 and a 12 month high of $8.65. The stock's fifty day moving average is $4.80 and its 200 day moving average is $4.42. The stock has a market cap of $832.86 million, a PE ratio of -7.68 and a beta of 4.51.
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 for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.29). The business had revenue of $43.70 million for the quarter, compared to the consensus estimate of $42.70 million. Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. During the same period last year, the firm posted ($0.07) EPS. As a group, sell-side analysts anticipate that Applied Digital will post -1.02 EPS for the current year.
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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