Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price was down 7.1% on Friday . The company traded as low as $11.41 and last traded at $11.62. Approximately 28,040,517 shares changed hands during trading, a decline of 29% from the average daily volume of 39,301,164 shares. The stock had previously closed at $12.51.
Analyst Ratings Changes
A number of analysts have weighed in on APLD shares. B. Riley increased their target price on shares of Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. HC Wainwright increased their target price on shares of Applied Digital from $7.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Cantor Fitzgerald decreased their target price on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. JMP Securities increased their target price on shares of Applied Digital from $12.00 to $18.00 and gave the company a "market outperform" rating in a research report on Tuesday, June 3rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Applied Digital in a research report on Monday, June 2nd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.73.
Read Our Latest Analysis on APLD
Applied Digital Trading Down 10.6%
The company has a market cap of $2.52 billion, a price-to-earnings ratio of -6.46 and a beta of 6.08. 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's 50-day moving average price is $6.83 and its 200 day moving average price is $7.62.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced 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). The company had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. During the same period last year, the business earned ($0.24) EPS. As a group, equities analysts expect that Applied Digital Co. will post -0.96 EPS for the current year.
Insider Activity at Applied Digital
In related news, Director Rachel H. Lee sold 24,212 shares of Applied Digital stock in a transaction 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 completion of the sale, the director now owns 83,613 shares of the company's stock, 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 can be accessed through the SEC website. 11.81% of the stock is currently owned by insiders.
Institutional Trading of Applied Digital
Several hedge funds have recently bought and sold shares of the business. Hood River Capital Management LLC grew its position in Applied Digital by 10.7% in the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock valued at $115,726,000 after purchasing an additional 1,464,854 shares during the period. Vanguard Group Inc. grew its position in Applied Digital by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 13,491,013 shares of the company's stock valued at $75,819,000 after purchasing an additional 730,978 shares during the period. Geode Capital Management LLC grew its position in Applied Digital by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after purchasing an additional 1,665,335 shares during the period. Van ECK Associates Corp grew its position in Applied Digital by 113.8% in the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after purchasing an additional 2,344,572 shares during the period. Finally, Situational Awareness LP acquired a new stake in Applied Digital in the 1st quarter valued at $22,680,000. Institutional investors and hedge funds 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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