The price of Applied Digital Corporation (NASDAQ:APLD) shares last traded on Wall Street fell -7.98% to $7.73.
Based on available information, 6 analysts follow Applied Digital Corporation (NASDAQ:APLD). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $11.00, we find $15.50. Given the previous closing price of $8.40, this indicates a potential upside of 84.52 percent. APLD stock price is now -2.11% away from the 50-day moving average and 106.34% away from the 200-day moving average. The market capitalization of the company currently stands at $803.53M.
Among analysts, 0 rate the stock a hold while 6 rate it a buy. Brokers who have rated the stock have averaged $14.67 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).
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 $15.7 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 $15.62 million. Insiders disposed of 87,649 shares of company stock worth roughly $0.68 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 $13,528,000. CREATIVE PLANNING invested $10,308,000 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 $1,237,000. TRUIST FINANCIAL CORP acquired a new stake in APLD for approximately $773,000. THOMPSON SIEGEL & WALMSLEY LLC purchased a new stake in APLD valued at around $767,000 in the second quarter. In total, there are 95 active investors with 25.20% ownership of the company’s stock.
A candlestick chart of Applied Digital Corporation (NASDAQ: APLD) showed a price of $8.38 on Thursday morning. During the past 12 months, Applied Digital Corporation has had a low of $1.45 and a high of $11.62. 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 $7.98 and a two-hundred day moving average price translates $3.78 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for Feb, 2023. According to the Capital Markets Company, earnings per share came in at -$0.08, missing analysts’ expectations of -$0.05 by -0.03. This compares to -$0.08 EPS in the same period last year. 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. For the current quarter, analysts expect APLD to generate $29.57M in revenue.
