Applied Digital (OTCMKTS:APLD) Trading Down 8.8% - Here's Why

Key Points

• Applied Digital Co. shares fell 8.8% during mid-day trading on Friday, closing at $33.43, down from the previous close of $36.64.
• The company's stock experienced a significant decrease in trading volume, with 22.7 million shares exchanged, a decline of 38% from the average session volume.
• Applied Digital specializes in datacenter operations for high-performance computing and artificial intelligence cloud services, and it has a market cap of $9.38 billion.

Shares of Applied Digital Co. (OTCMKTS:APLD - ) fell 8.8% during mid-day trading on Friday . The stock traded as low as $33.06 and last traded at $33.43. 22,722,176 shares traded hands during trading, a decline of 38% from the average session volume of 36,721,125 shares. The stock had previously closed at $36.64.

Applied Digital Stock Down 8.5%

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of -68.82 and a beta of 6.77. The firm's 50-day simple moving average is $20.64 and its two-hundred day simple moving average is $12.63.

Applied Digital Company Profile

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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