Applied Digital (NASDAQ:APLD - Get Free Report) was upgraded by Citizens Jmp to a "strong-buy" rating in a report issued on Thursday, Marketbeat reports. The firm currently has a $12.00 price objective on the stock. Citizens Jmp's price objective indicates a potential upside of 60.43% from the stock's current price.
A number of other research analysts have also commented on the stock. Northland Securities upped their price target on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. HC Wainwright decreased their target price on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Applied Digital in a report on Wednesday, April 23rd. Compass Point assumed coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Cantor Fitzgerald lowered their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital currently has a consensus rating of "Buy" and an average target price of $10.91.
Read Our Latest Analysis on APLD
Applied Digital Stock Performance
Shares of NASDAQ APLD opened at $7.48 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $1.68 billion, a P/E ratio of -4.32 and a beta of 5.98. Applied Digital has a 12 month low of $3.01 and a 12 month high of $12.48. The stock has a 50 day moving average of $5.56 and a 200-day moving average of $7.40.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same period in the prior year, the business earned ($0.24) EPS. As a group, equities research analysts predict that Applied Digital will post -0.96 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its stake in Applied Digital by 113.3% during the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock worth $37,000 after buying an additional 3,542 shares in the last quarter. Arete Wealth Advisors LLC raised its position in shares of Applied Digital by 117.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 1,065,432 shares of the company's stock valued at $5,988,000 after buying an additional 574,485 shares in the last quarter. Scientech Research LLC bought a new stake in shares of Applied Digital during the 1st quarter worth approximately $806,000. Needham Investment Management LLC acquired a new stake in shares of Applied Digital during the 1st quarter worth approximately $478,000. Finally, NewEdge Advisors LLC boosted its position in shares of Applied Digital by 239.1% during the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company's stock worth $187,000 after acquiring an additional 23,457 shares in the last quarter. Institutional investors own 65.67% of the company's stock.
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.
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