Applied Digital Corporation (NASDAQ:APLD - Get Free Report)'s share price fell 1.5% during trading on Thursday . The stock traded as low as $9.28 and last traded at $9.37. 5,289,628 shares were traded during trading, a decline of 86% from the average session volume of 38,721,777 shares. The stock had previously closed at $9.51.
Analyst Ratings Changes
Several research firms recently commented on APLD. Craig Hallum increased their price objective on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald dropped 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. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research report on Monday, June 2nd. Compass Point reaffirmed a "neutral" rating and set a $13.00 price objective (up from $10.00) on shares of Applied Digital in a research report on Monday, June 9th. Finally, Citizens Jmp raised Applied Digital to a "strong-buy" rating and set a $12.00 price objective on the stock in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.73.
Get Our Latest Stock Report on APLD
Applied Digital Price Performance
The firm has a 50 day moving average price of $8.88 and a 200 day moving average price of $7.75. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.56. The stock has a market cap of $2.10 billion, a P/E ratio of -6.81 and a beta of 6.04.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data 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 77.49% and a negative net margin of 109.99%. The company had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. During the same period last year, the business earned ($0.24) EPS. On average, analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.
Insider Activity at Applied Digital
In other news, Director Rachel H. Lee sold 24,212 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total value of $169,484.00. Following the transaction, the director owned 83,613 shares of the company's stock, valued at $585,291. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.81% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. Lake Hills Wealth Management LLC bought a new stake in Applied Digital during the 2nd quarter valued at approximately $184,000. Connective Portfolio Management LLC bought a new stake in Applied Digital during the 2nd quarter valued at approximately $201,000. Rhumbline Advisers raised its stake in Applied Digital by 7.8% during the 1st quarter. Rhumbline Advisers now owns 279,191 shares of the company's stock valued at $1,569,000 after purchasing an additional 20,299 shares during the period. Strs Ohio bought a new stake in Applied Digital during the 1st quarter valued at approximately $71,000. Finally, Wealth Management Associates Inc. raised its stake in Applied Digital by 25.5% during the 1st quarter. Wealth Management Associates Inc. now owns 95,660 shares of the company's stock valued at $538,000 after purchasing an additional 19,450 shares during the period. Institutional investors own 65.67% of the company's stock.
Applied Digital Company Profile
(
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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