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

Roth Mkm reaffirmed their buy rating on shares of Applied Digital (NASDAQ:APLD) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $10.00 price target on the stock.

A number of other equities analysts have also issued reports on the stock. Needham & Company LLC reissued a buy rating and set a $11.00 price target on shares of Applied Digital in a research report on Thursday, August 29th. HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of Applied Digital in a research note on Thursday, August 29th. Finally, B. Riley boosted their target price on shares of Applied Digital from $6.00 to $8.00 and gave the company a buy rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Digital presently has a consensus rating of Buy and a consensus price target of $8.20.

Applied Digital Trading Down 15.3 %

NASDAQ:APLD opened at $4.55 on Thursday. 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 firm has a fifty day simple moving average of $4.86 and a 200-day simple moving average of $4.32. Applied Digital has a 12 month low of $2.36 and a 12 month high of $8.65. The company has a market capitalization of $624.30 million, a P/E ratio of -5.76 and a beta of 4.51.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.29). Applied Digital had a negative net margin of 88.95% and a negative return on equity of 109.89%. The firm had revenue of $43.70 million for the quarter, compared to analysts’ expectations of $42.70 million. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that Applied Digital will post -1.02 earnings per share for the current year.

Institutional Trading of Applied Digital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLD. Price T Rowe Associates Inc. MD lifted its position in shares of 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 buying an additional 3,182 shares in the last quarter. ICA Group Wealth Management LLC increased its holdings in shares of Applied Digital by 56.8% during the 2nd quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company’s stock worth $112,000 after buying an additional 6,795 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Applied Digital by 381.8% during the 2nd 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 period. The Manufacturers Life Insurance Company increased its stake in Applied Digital by 25.0% during the second quarter. The Manufacturers Life Insurance Company now owns 37,641 shares of the company’s stock worth $224,000 after acquiring an additional 7,517 shares during the last quarter. Finally, Swiss National Bank lifted its position in Applied Digital by 6.9% in the fourth quarter. Swiss National Bank now owns 146,600 shares of the company’s stock valued at $988,000 after buying an additional 9,500 shares during the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

About Applied Digital

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.