Applied Digital’s (APLD) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm restated their buy rating on shares of Applied Digital (NASDAQ:APLD) in a report released on Thursday, Benzinga reports. Roth Mkm currently has a $10.00 price target on the stock.

A number of other analysts have also weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and set a $11.00 target price on shares of Applied Digital in a report on Thursday. B. Riley upped their price target on shares of Applied Digital from $8.00 to $9.00 and gave the stock a buy rating in a report on Friday, September 13th. HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Applied Digital in a research report on Thursday, August 29th. Finally, Craig Hallum boosted their target price on Applied Digital from $10.00 to $12.00 and gave the stock a buy rating in a research report on Thursday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of Buy and a consensus target price of $9.67.

Applied Digital Trading Up 5.7 %

Shares of APLD stock opened at $7.28 on Thursday. Applied Digital has a 1 year low of $2.36 and a 1 year high of $8.78. The company’s fifty day simple moving average is $5.54 and its two-hundred day simple moving average is $4.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $998.88 million, a price-to-earnings ratio of -9.22 and a beta of 4.56.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Wednesday, October 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. Applied Digital had a negative return on equity of 107.05% and a negative net margin of 74.95%. The business had revenue of $60.70 million for the quarter, compared to analysts’ expectations of $54.85 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 67.2% on a year-over-year basis. As a group, analysts anticipate that Applied Digital will post -1.12 earnings per share for the current year.

Insider Buying and Selling

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.50, for a total transaction of $55,000.00. Following the sale, the director now owns 218,506 shares in the company, valued at $1,201,783. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Digital

A number of hedge funds have recently made changes to their positions in APLD. Principal Financial Group Inc. purchased a new position in Applied Digital in the 1st quarter worth $50,000. Headlands Technologies LLC grew its stake in shares of Applied Digital by 381.8% during the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after buying an additional 6,933 shares during the last quarter. ARS Investment Partners LLC purchased a new position in shares of Applied Digital in the second quarter worth about $60,000. ICA Group Wealth Management LLC bought a new stake in shares of Applied Digital in the 4th quarter valued at about $81,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Applied Digital by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock valued at $103,000 after acquiring an additional 3,182 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Applied Digital 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.