Applied Digital Corporation (NASDAQ:APLD - Get Free Report)'s stock price was up 3.3% on Monday . The company traded as high as $9.69 and last traded at $9.48. Approximately 9,057,573 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 38,428,586 shares. The stock had previously closed at $9.18.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of Applied Digital in a research note on Tuesday, June 3rd. HC Wainwright increased their price objective on Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Compass Point reissued a "neutral" rating and issued a $13.00 price objective (up from $10.00) on shares of Applied Digital in a research note on Monday, June 9th. Roth Capital reissued a "buy" rating on shares of Applied Digital in a research note on Monday, June 2nd. Finally, JMP Securities raised their price target on Applied Digital from $12.00 to $18.00 and gave the stock a "market outperform" rating in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $12.73.
Read Our Latest Research Report on Applied Digital
Applied Digital Price Performance
The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -6.95 and a beta of 6.04. The stock has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $7.74. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative net margin of 109.99% and a negative return on equity of 77.49%. During the same period last year, the business earned ($0.24) EPS. As a group, equities research analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.
Insider Transactions at Applied Digital
In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the firm'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 value of $169,484.00. Following the sale, the director owned 83,613 shares of the company's stock, valued at $585,291. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.81% of the stock is owned by company insiders.
Institutional Trading of Applied Digital
Several institutional investors have recently modified their holdings of APLD. Exchange Traded Concepts LLC lifted its position in shares of Applied Digital by 4.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,042,035 shares of the company's stock worth $5,856,000 after buying an additional 39,945 shares during the period. Register Financial Advisors LLC raised its position in Applied Digital by 26.2% in the 1st quarter. Register Financial Advisors LLC now owns 254,200 shares of the company's stock valued at $1,429,000 after purchasing an additional 52,700 shares during the last quarter. Wells Fargo & Company MN raised its position in Applied Digital by 96.6% in the 4th quarter. Wells Fargo & Company MN now owns 119,963 shares of the company's stock valued at $917,000 after purchasing an additional 58,943 shares during the last quarter. Vanguard Group Inc. raised its position in Applied Digital by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Finally, Acuitas Investments LLC bought a new stake in shares of Applied Digital during the first quarter worth $2,639,000. 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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