Applied Digital (NASDAQ:APLD - Free Report) had its price target hoisted by JMP Securities from $12.00 to $18.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a market outperform rating on the stock.
Other equities analysts also recently issued reports about the stock. Craig Hallum boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Monday. Citizens Jmp upgraded shares of Applied Digital to a "strong-buy" rating and set a $12.00 price target for the company in a report on Thursday, May 22nd. HC Wainwright raised their price objective on Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Northland Securities raised their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $12.45.
View Our Latest Analysis on APLD
Applied Digital Trading Up 29.3%
APLD stock traded up $3.00 during mid-day trading on Tuesday, reaching $13.25. 210,396,613 shares of the stock traded hands, compared to its average volume of 35,324,637. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. Applied Digital has a one year low of $3.01 and a one year high of $13.47. The stock has a market capitalization of $2.98 billion, a PE ratio of -7.66 and a beta of 6.09. The business has a 50-day moving average price of $5.70 and a two-hundred day moving average price of $7.44.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. During the same period in the prior year, the firm posted ($0.24) earnings per share. Equities research analysts expect that Applied Digital will post -0.96 EPS for the current year.
Insider Transactions at Applied Digital
In related news, Director Rachel H. Lee sold 24,212 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the transaction, the director now directly owns 83,613 shares of the company's stock, valued at $585,291. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. lifted its stake in Applied Digital by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after buying an additional 1,500 shares during the last quarter. Corebridge Financial Inc. grew its holdings in Applied Digital by 2.0% in the first quarter. Corebridge Financial Inc. now owns 97,224 shares of the company's stock valued at $546,000 after purchasing an additional 1,899 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its position in Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after buying an additional 2,000 shares during the period. Wedbush Securities Inc. raised its holdings in shares of Applied Digital by 14.8% in the 1st quarter. Wedbush Securities Inc. now owns 15,500 shares of the company's stock worth $87,000 after purchasing an additional 2,000 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Applied Digital by 11.7% in the 1st quarter. Wellington Management Group LLP now owns 19,056 shares of the company's stock worth $107,000 after purchasing an additional 2,001 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.
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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