Applied Digital Co. (NASDAQ:APLD - Get Free Report)'s share price traded up 11% during mid-day trading on Thursday . The stock traded as high as $5.10 and last traded at $5.04. 14,419,518 shares were traded during trading, a decline of 50% from the average session volume of 28,654,068 shares. The stock had previously closed at $4.54.
Analysts Set New Price Targets
A number of brokerages have weighed in on APLD. Compass Point started coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company. HC Wainwright dropped their price target on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald cut their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research 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 research report on Wednesday, April 23rd. Finally, Northland Securities lifted their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Nine research 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.
View Our Latest Stock Report on Applied Digital
Applied Digital Trading Up 1.7 %
The business's fifty day moving average is $5.93 and its 200-day moving average is $7.59. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $1.19 billion, a PE ratio of -3.06 and a beta of 5.18.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued 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 return on equity of 117.67% and a negative net margin of 127.86%. The company had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. As a group, analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC grew its stake in Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after purchasing an additional 428,428 shares in the last quarter. Virtu Financial LLC acquired a new position in Applied Digital during the third quarter worth about $2,030,000. Tidal Investments LLC acquired a new position in shares of Applied Digital in the 3rd quarter valued at $95,000. JPMorgan Chase & Co. increased its holdings in shares of Applied Digital by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,355 shares of the company's stock valued at $465,000 after purchasing an additional 8,774 shares during the period. Finally, Gunderson Capital Management Inc. purchased a new position in Applied Digital in the fourth quarter valued at about $83,000. Hedge funds and other institutional investors 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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Applied Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.
While Applied Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
