Shares of Applied Digital Co. (NASDAQ:APLD - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $5.26, but opened at $5.74. Applied Digital shares last traded at $5.53, with a volume of 2,011,535 shares.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on APLD. HC Wainwright raised their price target on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Compass Point started coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price for the company. Northland Securities upped their price target on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald cut their price objective on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Wednesday, January 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Digital presently has an average rating of "Buy" and a consensus target price of $12.11.
Check Out Our Latest Research Report on Applied Digital
Applied Digital Price Performance
The company has a fifty day simple moving average of $7.16 and a two-hundred day simple moving average of $7.92. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.06 and a beta of 5.18. 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 (NASDAQ:APLD - Get Free Report) last released its earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business's quarterly revenue was up 51.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.05) EPS. As a group, equities research analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Insider Buying and Selling at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the sale, the director now owns 342,923 shares of the company's stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 11.81% of the company's stock.
Institutional Investors Weigh In On Applied Digital
Several hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB boosted 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 purchasing an additional 2,000 shares in the last quarter. R Squared Ltd bought a new position in Applied Digital in the 4th quarter valued at approximately $36,000. US Bancorp DE acquired a new stake in Applied Digital during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp bought a new stake in Applied Digital during the 4th quarter worth approximately $39,000. Finally, Spire Wealth Management acquired a new position in Applied Digital in the 4th quarter valued at approximately $43,000. 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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