In yesterday’s Wall Street session, Applied Digital Corporation (NASDAQ:APLD) shares traded at $2.25, down -5.86% from the previous session.
7 analysts cover Applied Digital Corporation (NASDAQ:APLD), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $3.70, we find $6.00. Given the previous closing price of $2.39, this indicates a potential upside of 151.05 percent. APLD stock price is now -12.65% away from the 50-day moving average and 2.36% away from the 200-day moving average. The market capitalization of the company currently stands at $208.62M.
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The stock has received a hold rating from 0 analysts and a buy rating from 7. Brokers who have rated the stock have averaged $5.89 as their price target over the next twelve months.
With the price target of $4, H.C. Wainwright recently initiated with Buy rating for Applied Digital Corporation (NASDAQ: APLD). On May 24, 2022, DA Davidson recently initiated its ‘Buy’ rating on the stock quoting a target price of $6, while ‘Craig Hallum’ rates the stock as ‘Buy’.
In other news, HASTINGS CHUCK, Director bought 10,000 shares of the company’s stock on Feb 27. The stock was bought for $25,900 at an average price of $2.59. Upon completion of the transaction, the Director now directly owns 464,500 shares in the company, valued at $1.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 15, CEO; Chairman Cummins Wes bought 25,000 shares of the business’s stock. A total of $76,500 was incurred on buying the stock at an average price of $3.06. This leaves the insider owning 1,945,686 shares of the company worth $4.38 million. Insiders disposed of 63,650 shares of company stock worth roughly $0.14 million over the past 1 year. A total of 8.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in APLD stock. A new stake in Applied Digital Corporation shares was purchased by EXCHANGE TRADED CONCEPTS, LLC during the first quarter worth $2,233,000. BOOTHBAY FUND MANAGEMENT, LLC invested $924,000 in shares of APLD during the first quarter. In the first quarter, B. RILEY WEALTH ADVISORS, INC. acquired a new stake in Applied Digital Corporation valued at approximately $490,000. SEI INVESTMENTS CO acquired a new stake in APLD for approximately $390,000. BEACON POINTE ADVISORS, LLC purchased a new stake in APLD valued at around $95,000 in the second quarter. In total, there are 95 active investors with 25.20% ownership of the company’s stock.
On Wednesday morning Applied Digital Corporation (NASDAQ: APLD) stock kicked off with the opening price of $2.4300. During the past 12 months, Applied Digital Corporation has had a low of $0.85 and a high of $27.12. As of last week, the company has a debt-to-equity ratio of 0.32, a current ratio of 0.30, and a quick ratio of 0.30. The fifty day moving average price for APLD is $2.5757 and a two-hundred day moving average price translates $2.1982 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for Nov, 2022. According to the Capital Markets Company, earnings per share came in at -$0.28, missing analysts’ expectations of -$0.06 by -0.22. This compares to $0.03 EPS in the same period last year. For the current quarter, analysts expect APLD to generate $17.17M in revenue.
Applied Digital Corporation(APLD) Company Profile
Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the performance computing industry. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation was incorporated in 2001 and is based in Dallas, Texas.
