Key Points
- Director Chuck Hastings sold 45,987 shares on Jan. 29 at an average price of $38.57 for proceeds of about $1.77M, reducing his stake to 388,372 shares (a 10.59% decrease).
- Applied Digital reported ($0.11) EPS for the quarter, missing estimates by $0.02, while revenue surged to $126.59M (up 250.1% year-over-year) but the company remains unprofitable with a -43.49% net margin.
- The stock opened at $33.88 (52‑week range $3.31–$42.27) with a market cap around $9.47B, and carries a consensus analyst rating of "Buy" with an average price target of $34.73 (some firms have higher targets up to $58).
Applied Digital Corporation (NASDAQ:APLD - Get Free Report) Director Chuck Hastings sold 45,987 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $38.57, for a total value of $1,773,718.59. Following the completion of the transaction, the director owned 388,372 shares in the company, valued at approximately $14,979,508.04. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Applied Digital Price Performance
APLD stock opened at $33.88 on Friday. The business has a 50 day moving average price of $30.33 and a 200 day moving average price of $24.56. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of -62.74 and a beta of 6.89. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $42.27.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 7th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.02). The company had revenue of $126.59 million during the quarter, compared to analysts' expectations of $82.22 million. Applied Digital had a negative net margin of 43.49% and a negative return on equity of 13.53%. The business's revenue for the quarter was up 250.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Equities research analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Applied Digital
Several institutional investors have recently added to or reduced their stakes in APLD. Activest Wealth Management purchased a new stake in Applied Digital during the 4th quarter valued at approximately $25,000. Cannon Capital Management Inc. purchased a new position in shares of Applied Digital in the 4th quarter valued at approximately $3,635,000. Bogart Wealth LLC acquired a new position in shares of Applied Digital in the fourth quarter valued at approximately $49,000. R Squared Ltd raised its stake in shares of Applied Digital by 15.2% during the fourth quarter. R Squared Ltd now owns 13,403 shares of the company's stock worth $329,000 after purchasing an additional 1,767 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Applied Digital during the fourth quarter worth $275,000. Institutional investors and hedge funds own 65.67% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Roth Mkm boosted their price target on shares of Applied Digital to $58.00 and gave the company a "buy" rating in a research report on Thursday, January 8th. Texas Capital raised Applied Digital to a "strong-buy" rating in a report on Tuesday, January 20th. Weiss Ratings restated a "sell (d-)" rating on shares of Applied Digital in a research note on Wednesday, October 8th. Citigroup reiterated an "outperform" rating on shares of Applied Digital in a research note on Wednesday. Finally, Craig Hallum increased their price objective on Applied Digital to $39.00 and gave the company a "buy" rating in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Applied Digital currently has a consensus rating of "Buy" and an average price target of $34.73.
Check Out Our Latest Research Report on APLD
About Applied Digital
(
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.
Further Reading
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