Applied Digital Co. (NASDAQ:APLD - Get Free Report) saw unusually-strong trading volume on Friday after B. Riley raised their price target on the stock from $8.00 to $9.00. B. Riley currently has a buy rating on the stock. Approximately 4,035,929 shares changed hands during trading, a decline of 31% from the previous session's volume of 5,843,025 shares.The stock last traded at $6.41 and had previously closed at $6.02.
Other research analysts also recently issued research reports about the company. HC Wainwright restated a "buy" rating and set a $5.00 price target on shares of Applied Digital in a research note on Thursday, August 29th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday. Finally, Roth Mkm reiterated a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a research note on Thursday, September 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $8.40.
Get Our Latest Research Report on APLD
Insider Buying and Selling at Applied Digital
In related news, Director Douglas S. Miller sold 10,000 shares of the company's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total transaction of $55,000.00. Following the transaction, the director now owns 218,506 shares of the company's stock, valued at $1,201,783. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 20.50% of the company's stock.
Institutional Investors Weigh In On Applied Digital
Several institutional investors have recently modified their holdings of APLD. Capital Research Global Investors boosted its stake in shares of Applied Digital by 427.2% during the 4th quarter. Capital Research Global Investors now owns 7,337,288 shares of the company's stock worth $49,453,000 after acquiring an additional 5,945,559 shares in the last quarter. Vanguard Group Inc. lifted its stake in Applied Digital by 70.2% in the 1st 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 in the last quarter. Van ECK Associates Corp lifted its stake in Applied Digital by 92.1% in the 1st quarter. Van ECK Associates Corp now owns 2,426,281 shares of the company's stock valued at $10,384,000 after buying an additional 1,163,247 shares in the last quarter. Oasis Management Co Ltd. lifted its stake in Applied Digital by 23.6% in the 4th 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. Finally, Hood River Capital Management LLC lifted its stake in Applied Digital by 8.7% in the 2nd quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company's stock valued at $57,098,000 after buying an additional 771,699 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company's stock.
Applied Digital Trading Up 1.2 %
The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.14. The business has a 50 day moving average of $4.83 and a 200-day moving average of $4.38. The stock has a market cap of $835.60 million, a PE ratio of -8.04 and a beta of 4.51.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its 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 net margin of 88.95% and a negative return on equity of 111.80%. The company had revenue of $43.70 million during the quarter, compared to analysts' expectations of $42.70 million. During the same period in the previous year, the company posted ($0.07) EPS. On average, analysts anticipate that Applied Digital Co. will post -1.02 EPS for the current year.
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.
Further Reading
Before you consider Applied Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.
While Applied Digital currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
