Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price traded down 6.3% during trading on Wednesday . The stock traded as low as $4.41 and last traded at $4.43. 845,305 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 4,310,902 shares. The stock had previously closed at $4.73.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Roth Mkm reiterated a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a research report on Wednesday, July 10th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research report on Wednesday, July 10th. B. Riley raised their price target on Applied Digital from $6.00 to $8.00 and gave the company a "buy" rating in a report on Friday, June 28th. Finally, HC Wainwright restated a "buy" rating and set a $5.00 price objective on shares of Applied Digital in a research note on Wednesday, June 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $8.40.
View Our Latest Research Report on Applied Digital
Applied Digital Price Performance
The business has a 50-day simple moving average of $5.16 and a two-hundred day simple moving average of $4.36. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $605.09 million, a price-to-earnings ratio of -5.58 and a beta of 4.56.
Institutional Trading of Applied Digital
Hedge funds and other institutional investors have recently modified their holdings of the company. Oasis Management Co Ltd. boosted its stake in Applied Digital by 23.6% during the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company's stock valued at $33,216,000 after buying an additional 940,075 shares in the last quarter. Versor Investments LP acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $121,000. Russell Investments Group Ltd. grew its stake in shares of Applied Digital by 154.0% in the 4th quarter. Russell Investments Group Ltd. now owns 265,929 shares of the company's stock worth $1,792,000 after purchasing an additional 161,250 shares during the last quarter. Woodmont Investment Counsel LLC raised its holdings in shares of Applied Digital by 4.2% in the 1st quarter. Woodmont Investment Counsel LLC now owns 250,319 shares of the company's stock worth $1,071,000 after purchasing an additional 10,149 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in Applied Digital during the fourth quarter valued at approximately $107,000. Institutional investors own 65.67% of the company's stock.
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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