In yesterday’s Wall Street session, Applied Digital Corporation (NASDAQ:APLD) shares traded at $6.43, down -1.91% from the previous session.
6 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 $19.00 and a low of $12.00, we find $16.25. Given the previous closing price of $6.56, this indicates a potential upside of 147.71 percent. APLD stock price is now -24.29% away from the 50-day moving average and 47.69% away from the 200-day moving average. The market capitalization of the company currently stands at $678.38M.
The stock has received a hold rating from 0 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $15.75 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).
In other news, Nottenburg Richard N, Director sold 14,820 shares of the company’s stock on Aug 08. The stock was sold for $114,707 at an average price of $7.74. Upon completion of the transaction, the Director now directly owns 180,001 shares in the company, valued at $1.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 17, CEO; Chairman Cummins Wes bought 10,000 shares of the business’s stock. A total of $61,700 was incurred on buying the stock at an average price of $6.17. This leaves the insider owning 2,030,686 shares of the company worth $13.06 million. Insiders disposed of 87,649 shares of company stock worth roughly $0.56 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 PORTOLAN CAPITAL MANAGEMENT, LLC during the first quarter worth $20,662,000. MILLENNIUM MANAGEMENT LLC invested $9,124,000 in shares of APLD during the first quarter. In the first quarter, CASTLEKNIGHT MANAGEMENT LP acquired a new stake in Applied Digital Corporation valued at approximately $6,992,000. EAM INVESTORS, LLC acquired a new stake in APLD for approximately $4,983,000. EMERALD ADVISERS, LLC purchased a new stake in APLD valued at around $4,867,000 in the second quarter. In total, there are 125 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 $6.54. 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 1.52, a current ratio of 0.40, and a quick ratio of 0.40. The fifty day moving average price for APLD is $8.44 and a two-hundred day moving average price translates $4.38 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for May, 2023. According to the Capital Markets Company, earnings per share came in at -$0.07, missing analysts’ expectations of -$0.04 by -0.03. This compares to $0.02 EPS in the same period last year. The net profit margin was -80.60% and return on equity was -70.80% for APLD. The company reported revenue of $22.04 million for the quarter, compared to $7.52 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 192.94 percent. For the current quarter, analysts expect APLD to generate $40.24M 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 high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas.
