Stocks of Applied Digital Corporation (NASDAQ:APLD) traded higher last session on Wall Street, up 4.82% to $7.39.
According to the data, Applied Digital Corporation (NASDAQ:APLD) has 7 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $13.00 and a low of $4.00, we find $7.75. Given the previous closing price of $7.05, this indicates a potential upside of 9.93 percent. APLD stock price is now 156.07% away from the 50-day moving average and 211.76% away from the 200-day moving average. The market capitalization of the company currently stands at $849.85M.
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A total of 0 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $7.75 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, Cummins Wes, CEO; Chairman bought 10,000 shares of the company’s stock on May 17. The stock was bought for $61,700 at an average price of $6.17. Upon completion of the transaction, the CEO; Chairman now directly owns 2,030,686 shares in the company, valued at $15.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 14, CEO; Chairman Cummins Wes bought 25,000 shares of the business’s stock. A total of $87,500 was incurred on buying the stock at an average price of $3.50. This leaves the insider owning 2,020,686 shares of the company worth $14.93 million. Insiders disposed of 87,649 shares of company stock worth roughly $0.65 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 DIVISADERO STREET CAPITAL MANAGEMENT, LP during the first quarter worth $12,933,000. CREATIVE PLANNING invested $9,855,000 in shares of APLD during the first quarter. In the first quarter, APIS CAPITAL ADVISORS, LLC acquired a new stake in Applied Digital Corporation valued at approximately $1,182,000. TRUIST FINANCIAL CORP acquired a new stake in APLD for approximately $739,000. THOMPSON SIEGEL & WALMSLEY LLC purchased a new stake in APLD valued at around $733,000 in the second quarter. In total, there are 95 active investors with 25.20% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $6.76 for Applied Digital Corporation (NASDAQ: APLD). During the past 12 months, Applied Digital Corporation has had a low of $0.85 and a high of $7.27. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 0.20, and a quick ratio of 0.20. The fifty day moving average price for APLD is $2.99 and a two-hundred day moving average price translates $2.40 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for Feb, 2023. The company reported revenue of $14.09 million for the quarter, compared to $1.03 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1273.29 percent.
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.
