Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price rose 6.4% during mid-day trading on Thursday . The company traded as high as $12.82 and last traded at $12.82. Approximately 37,928,269 shares traded hands during mid-day trading, a decline of 3% from the average daily volume of 39,048,250 shares. The stock had previously closed at $12.05.
Analysts Set New Price Targets
APLD has been the subject of a number of recent research reports. Craig Hallum upped their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a report on Monday, June 2nd. Compass Point reiterated a "neutral" rating and issued a $13.00 price objective (up from $10.00) on shares of Applied Digital in a report on Monday, June 9th. Finally, B. Riley upped their price objective on shares of Applied Digital from $8.00 to $15.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned 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 target price of $12.73.
Get Our Latest Analysis on APLD
Applied Digital Price Performance
The stock's 50-day moving average price is $6.83 and its 200 day moving average price is $7.64. The firm 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 quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22.
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 analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. During the same period in the prior year, the company posted ($0.24) EPS. Equities research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current year.
Insider Transactions 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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 11.81% of the company's stock.
Institutional Trading of Applied Digital
Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. acquired a new stake in shares of Applied Digital in the first quarter valued at approximately $28,000. Wilmington Savings Fund Society FSB increased its holdings in shares of Applied Digital by 100.0% in 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. US Bancorp DE acquired a new stake in shares of Applied Digital in the fourth quarter valued at approximately $37,000. Geneos Wealth Management Inc. increased its holdings in shares of Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock valued at $37,000 after purchasing an additional 3,542 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 65.67% of the company's stock.
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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