Analysts’ Weekly Ratings Changes for Applied Digital (APLD)

A number of firms have modified their ratings and price targets on shares of Applied Digital (NASDAQ: APLD) recently:

• 6/28/2024 – Applied Digital had its price target raised by analysts at B. Riley from $6.00 to $8.00. They now have a “buy” rating on the stock.
• 6/24/2024 – Applied Digital had its price target raised by analysts at Roth Mkm from $8.00 to $11.00. They now have a “buy” rating on the stock.
• 6/14/2024 – Applied Digital had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $11.00 price target on the stock.
• 6/12/2024 – Applied Digital had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $5.00 price target on the stock.
• 5/17/2024 – Applied Digital had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $15.00 price target on the stock.
• 5/6/2024 – Applied Digital had its price target lowered by analysts at B. Riley from $8.00 to $6.00. They now have a “buy” rating on the stock.

Applied Digital Trading Down 4.6 %

Shares of APLD traded down $0.29 on Friday, reaching $5.95. 8,821,682 shares of the company’s stock were exchanged, compared to its average volume of 4,171,165. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $816.40 million, a P/E ratio of -7.53 and a beta of 4.38. The business has a 50 day moving average price of $4.19 and a two-hundred day moving average price of $4.73. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.07.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Thursday, April 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.40). The firm had revenue of $43.35 million for the quarter, compared to analyst estimates of $50.36 million. Applied Digital had a negative net margin of 61.84% and a negative return on equity of 75.46%. Research analysts anticipate that Applied Digital Co. will post -1.03 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in shares of Applied Digital by 14.1% in the first quarter. California State Teachers Retirement System now owns 91,086 shares of the company’s stock valued at $390,000 after buying an additional 11,288 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Applied Digital by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock valued at $103,000 after buying an additional 3,182 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of Applied Digital by 2.8% in the first quarter. Hood River Capital Management LLC now owns 8,824,532 shares of the company’s stock valued at $37,769,000 after buying an additional 240,177 shares during the period. JT Stratford LLC boosted its holdings in shares of Applied Digital by 157.5% in the first quarter. JT Stratford LLC now owns 308,626 shares of the company’s stock valued at $1,321,000 after buying an additional 188,779 shares during the period. Finally, Vident Advisory LLC boosted its holdings in shares of Applied Digital by 26.7% in the first quarter. Vident Advisory LLC now owns 750,005 shares of the company’s stock valued at $3,210,000 after buying an additional 157,819 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

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.