Applied Digital Co. (NASDAQ:APLD - Get Free Report) shares saw unusually-high trading volume on Tuesday after B. Riley raised their price target on the stock from $8.00 to $15.00. B. Riley currently has a buy rating on the stock. Approximately 53,484,568 shares changed hands during mid-day trading, an increase of 64% from the previous session's volume of 32,565,641 shares.The stock last traded at $10.01 and had previously closed at $10.14.
Other equities analysts have also issued reports about the stock. Northland Securities raised their price target on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald lowered their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Citizens Jmp raised shares of Applied Digital to a "strong-buy" rating and set a $12.00 price target on the stock in a research report on Thursday, May 22nd. HC Wainwright raised their price target on shares of Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Craig Hallum raised their price target on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Applied Digital presently has a consensus rating of "Buy" and a consensus price target of $12.45.
Check Out Our Latest Stock Analysis on Applied Digital
Insider Buying and Selling at Applied Digital
In other news, Director Rachel H. Lee sold 24,212 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the sale, the director now directly owns 83,613 shares in the company, valued at approximately $585,291. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.81% of the company's stock.
Institutional Investors Weigh In On Applied Digital
Hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB boosted its stake in shares of Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Applied Digital in the 4th quarter valued at approximately $36,000. US Bancorp DE acquired a new stake in shares of Applied Digital in the 4th quarter valued at approximately $37,000. PNC Financial Services Group Inc. acquired a new stake in shares of Applied Digital in the 1st quarter valued at approximately $28,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital in the 4th quarter valued at approximately $39,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.
Applied Digital Trading Up 29.3%
The firm's 50-day moving average is $5.70 and its 200 day moving average is $7.44. 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 firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -7.66 and a beta of 6.09.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, equities analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal 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.
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