Applied Digital (OTCMKTS:APLD) Shares Up 8.1% - Time to Buy?

Key Points

• Applied Digital Co.'s shares increased by 8.1% on Monday, reaching a trading high of $29.23, with a significant drop in trading volume of 73% from its average.
• The company has a market capitalization of $7.59 billion and a price-to-earnings ratio of -56.55, indicating a currently unprofitable status.
• Applied Digital provides digital infrastructure solutions for high-performance computing, including services for artificial intelligence and cryptocurrency hosting.

Applied Digital Co. (OTCMKTS:APLD - ) rose 8.1% during trading on Monday . The stock traded as high as $29.23 and last traded at $28.69. Approximately 9,765,215 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 36,099,297 shares. The stock had previously closed at $26.53.

Applied Digital Trading Up 4.4%

The business's 50 day moving average price is $17.13 and its 200-day moving average price is $11.11. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.10. The company has a market cap of $7.59 billion, a price-to-earnings ratio of -56.55 and a beta of 6.77.

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.

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