Applied Digital Corporation (NASDAQ:APLD - Get Free Report) shares traded down 1.2% during trading on Thursday . The company traded as low as $10.34 and last traded at $10.43. 9,163,413 shares traded hands during trading, a decline of 77% from the average session volume of 39,184,543 shares. The stock had previously closed at $10.56.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on APLD shares. Craig Hallum increased their target price on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. HC Wainwright increased their target price on shares of Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Monday, June 2nd. Citizens Jmp raised Applied Digital to a "strong-buy" rating and set a $12.00 price target on the stock in a research report on Thursday, May 22nd. Finally, Compass Point reissued a "neutral" rating and set a $13.00 target price (up from $10.00) on shares of Applied Digital in a research report on Monday, June 9th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $12.73.
Read Our Latest Report on APLD
Applied Digital Stock Down 1.0%
The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.70 and a current ratio of 0.70. The firm's 50-day simple moving average is $8.47 and its 200 day simple moving average is $7.72. The company has a market cap of $2.35 billion, a P/E ratio of -7.63 and a beta of 6.04.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 77.49% and a negative net margin of 109.99%. The firm had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same period in the previous year, the business earned ($0.24) EPS. On average, research analysts forecast that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.
Insider Activity at Applied Digital
In other news, Director Rachel H. Lee sold 24,212 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total transaction of $169,484.00. Following the sale, the director owned 83,613 shares in the company, valued at $585,291. This represents a 22.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 11.81% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Applied Digital in the 4th quarter valued at about $37,000. PNC Financial Services Group Inc. purchased a new stake in Applied Digital in the first quarter worth $28,000. Jones Financial Companies Lllp bought a new stake in Applied Digital in the 4th quarter valued at about $39,000. Amalgamated Bank lifted its stake in shares of Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock valued at $50,000 after buying an additional 3,473 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 worth $37,000 after acquiring an additional 3,542 shares during the period. 65.67% of the stock is owned by institutional investors.
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.
Recommended Stories
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
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
