Applied Digital's (APLD) "Neutral" Rating Reaffirmed at Compass Point

Applied Digital (NASDAQ:APLD - Get Free Report)'s stock had its "neutral" rating restated by Compass Point in a report released on Monday, MarketBeat.com reports. They currently have a $13.00 price target on the stock. Compass Point's price target points to a potential downside of 6.47% from the stock's current price.

Several other analysts have also issued reports on the stock. B. Riley upped their target price on shares of Applied Digital from $8.00 to $15.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Citizens Jmp raised shares of Applied Digital to a "strong-buy" rating and set a $12.00 price objective for the company in a research report on Thursday, May 22nd. Craig Hallum lifted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a research note on Monday, June 2nd. Finally, Cantor Fitzgerald decreased their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Applied Digital presently has a consensus rating of "Buy" and a consensus price target of $12.73.

Applied Digital Stock Up 0.3%

NASDAQ APLD traded up $0.04 during trading hours on Monday, hitting $13.90. The company's stock had a trading volume of 48,498,363 shares, compared to its average volume of 38,338,031. The company has a market capitalization of $3.13 billion, a PE ratio of -8.03 and a beta of 6.08. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital has a 52 week low of $3.01 and a 52 week high of $15.42. The company's 50-day simple moving average is $6.15 and its two-hundred day simple moving average is $7.53.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share 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 during the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the prior year, the business earned ($0.24) EPS. Research analysts anticipate that Applied Digital will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the transaction, the director now owns 83,613 shares in the company, valued at approximately $585,291. The trade was a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.81% of the stock is owned by corporate insiders.

Institutional Trading of Applied Digital

Large investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after buying an additional 428,428 shares during the period. KBC Group NV bought a new stake in Applied Digital in the fourth quarter valued at $55,000. Spire Wealth Management purchased a new position in Applied Digital during the 4th quarter valued at $43,000. Wilmington Savings Fund Society FSB raised its holdings in Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Applied Digital in the 4th quarter worth about $403,000. 65.67% of the stock is owned by institutional investors.

About Applied Digital

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.