Applied Digital Co. (NASDAQ:APLD - Get Free Report) traded up 16.1% during mid-day trading on Friday . The company traded as high as $6.72 and last traded at $6.49. 27,515,479 shares were traded during mid-day trading, a decline of 7% from the average session volume of 29,440,033 shares. The stock had previously closed at $5.59.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. HC Wainwright cut their target price on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Northland Securities raised their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Compass Point assumed coverage on shares of Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a report on Wednesday, April 23rd. Finally, 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 report on Tuesday, April 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $10.67.
View Our Latest Stock Analysis on APLD
Applied Digital Stock Performance
The stock has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $7.40. The company has a market cap of $1.51 billion, a P/E ratio of -3.89 and a beta of 5.98. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted 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 quarter in the prior year, the business earned ($0.24) EPS. On average, equities analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Vontobel Holding Ltd. increased its stake in shares of Applied Digital by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after acquiring an additional 1,500 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Applied Digital by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock valued at $90,000 after acquiring an additional 1,692 shares during the period. Corebridge Financial Inc. increased its stake in shares of Applied Digital by 2.0% during the first quarter. Corebridge Financial Inc. now owns 97,224 shares of the company's stock valued at $546,000 after acquiring an additional 1,899 shares during the period. Wilmington Savings Fund Society FSB increased 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 acquiring an additional 2,000 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of Applied Digital by 14.8% during the first quarter. Wedbush Securities Inc. now owns 15,500 shares of the company's stock valued at $87,000 after acquiring an additional 2,000 shares during the period. 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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