Applied Digital Co. (NASDAQ:APLD - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $6.48, but opened at $6.92. Applied Digital shares last traded at $6.59, with a volume of 5,899,302 shares.
Analyst Ratings Changes
A number of equities research analysts have issued reports on APLD shares. Craig Hallum boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, October 10th. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. HC Wainwright raised their target price on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Wednesday, January 15th. Lake Street Capital upped their price target on Applied Digital from $7.00 to $11.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Applied Digital in a research report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital currently has an average rating of "Buy" and an average target price of $11.13.
Read Our Latest Analysis on APLD
Applied Digital Trading Down 3.5 %
The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market cap of $1.59 billion, a P/E ratio of -4.12 and a beta of 4.78. The stock has a 50-day moving average price of $8.80 and a 200-day moving average price of $7.10.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital's revenue for the quarter was up 51.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, equities research analysts expect that Applied Digital Co. will post -0.96 EPS for the current year.
Insider Transactions at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 50,000 shares of Applied Digital stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $460,000.00. Following the transaction, the director now directly owns 334,317 shares of the company's stock, valued at approximately $3,075,716.40. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wes Cummins sold 200,000 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,875,955 shares of the company's stock, valued at $35,658,786. This trade represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 289,369 shares of company stock valued at $2,622,461. Insiders own 11.81% of the company's stock.
Hedge Funds Weigh In On Applied Digital
A number of large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB grew its stake in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after buying an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new stake in Applied Digital during the 4th quarter valued at about $36,000. Spire Wealth Management bought a new position in Applied Digital during the 4th quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Applied Digital in the 3rd quarter worth approximately $59,000. Finally, KBC Group NV bought a new stake in Applied Digital in the fourth quarter valued at approximately $55,000. Hedge funds and other 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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