Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s stock price traded down 6.5% during mid-day trading on Thursday . The company traded as low as $5.51 and last traded at $5.59. 9,382,012 shares were traded during mid-day trading, a decline of 68% from the average session volume of 29,255,928 shares. The stock had previously closed at $5.98.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on APLD shares. HC Wainwright reduced their price objective on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Northland Securities increased their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald cut their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Compass Point assumed coverage on Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital has a consensus rating of "Buy" and an average price target of $10.67.
Check Out Our Latest Stock Analysis on Applied Digital
Applied Digital Price Performance
The company's 50-day simple moving average is $5.55 and its 200 day simple moving average is $7.42. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -3.34 and a beta of 5.98. 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 posted its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share (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 the consensus estimate 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 quarter in the previous year, the firm posted ($0.24) EPS. Equities research analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.
Institutional Investors Weigh In On Applied Digital
Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in Applied Digital by 96.6% in the fourth quarter. Wells Fargo & Company MN now owns 119,963 shares of the company's stock worth $917,000 after purchasing an additional 58,943 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Applied Digital by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after acquiring an additional 3,587,619 shares in the last quarter. Rhumbline Advisers grew its position in Applied Digital by 68.7% during the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock worth $1,978,000 after acquiring an additional 105,428 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Applied Digital by 37.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company's stock valued at $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Finally, Barclays PLC raised its position in Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after purchasing an additional 428,428 shares during the last quarter. 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.
Further Reading
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