Key Points
- Douglas Miller, an Applied Digital director, sold 10,000 shares on Jan. 12 at an average price of $38.54 for about $385,400, leaving him with 200,859 shares (a 4.74% reduction in his holding).
- In the quarter reported Jan. 7 the company missed EPS (‑$0.11 vs. ‑$0.09 est.) but beat revenue expectations with $126.59M (up ~250% year-over-year), while still showing negative margins and return on equity.
- The stock opened at $36.10 (52-week range $3.31–$40.20) with a market cap near $10.1B; analysts maintain a consensus "Buy" (average target ~$33.27) and several firms have raised targets into the high $30s–$41 range.
Applied Digital Corporation (NASDAQ:APLD - Get Free Report) Director Douglas Miller sold 10,000 shares of the company's stock in a transaction on Monday, January 12th. The shares were sold at an average price of $38.54, for a total value of $385,400.00. Following the sale, the director owned 200,859 shares of the company's stock, valued at approximately $7,741,105.86. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Applied Digital Stock Down 1.7%
Shares of NASDAQ APLD opened at $36.10 on Thursday. The stock has a market capitalization of $10.09 billion, a P/E ratio of -66.85 and a beta of 6.89. The stock's fifty day moving average is $27.61 and its 200 day moving average is $22.39. Applied Digital Corporation has a 52 week low of $3.31 and a 52 week high of $40.20. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.02). The firm had revenue of $126.59 million for the quarter, compared to analyst estimates of $82.22 million. Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The company's quarterly revenue was up 250.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.06) earnings per share. Sell-side analysts forecast that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.
Institutional Trading of Applied Digital
A number of hedge funds have recently made changes to their positions in APLD. Voya Investment Management LLC raised its stake in Applied Digital by 403.4% during the third quarter. Voya Investment Management LLC now owns 1,464,909 shares of the company's stock worth $33,605,000 after buying an additional 1,173,929 shares during the last quarter. Chelsea Counsel Co. acquired a new stake in Applied Digital during the 2nd quarter worth about $582,000. Lake Hills Wealth Management LLC bought a new position in shares of Applied Digital in the 2nd quarter worth about $184,000. KLP Kapitalforvaltning AS lifted its stake in shares of Applied Digital by 27.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 41,500 shares of the company's stock valued at $418,000 after purchasing an additional 9,000 shares during the period. Finally, Kovack Advisors Inc. bought a new stake in shares of Applied Digital during the 2nd quarter valued at about $116,000. 65.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
APLD has been the topic of a number of research analyst reports. HC Wainwright raised their target price on Applied Digital from $20.00 to $40.00 and gave the company a "buy" rating in a report on Friday, October 10th. Wall Street Zen raised Applied Digital from a "sell" rating to a "hold" rating in a research note on Saturday, January 10th. Needham & Company LLC reissued a "buy" rating and set a $41.00 target price on shares of Applied Digital in a research note on Thursday, January 8th. Northland Securities restated an "outperform" rating and issued a $40.00 price target on shares of Applied Digital in a research note on Tuesday, December 30th. Finally, Craig Hallum lifted their price target on shares of Applied Digital to $39.00 and gave the company a "buy" rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Applied Digital has a consensus rating of "Buy" and an average target price of $33.27.
Read Our Latest Stock Analysis on APLD
Applied Digital Company Profile
(
Get Free Report)
Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital's modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.
In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.
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