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Why Should You Add Applied Digital Corporation (APLD) To Your Portfolio?

Applied Digital Corporation (NASDAQ:APLD) has a beta value of 4.88 and has seen 1.43 million shares traded in the last trading session. The company, currently valued at $239.08M, closed the last trade at $2.51 per share which meant it gained $0.17 on the day or 7.26% during that session. The APLD stock price is -980.48% off its 52-week high price of $27.12 and 66.14% above the 52-week low of $0.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.84 million shares traded. The 3-month trading volume is 741.90K shares.

The consensus among analysts is that Applied Digital Corporation (APLD) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 7 have rated it as a Hold, with 7 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.06.

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Applied Digital Corporation (NASDAQ:APLD) trade information

Sporting 7.26% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the APLD stock price touched $2.51 or saw a rise of 1.57%. Year-to-date, Applied Digital Corporation shares have moved 36.41%, while the 5-day performance has seen it change 11.56%. Over the past 30 days, the shares of Applied Digital Corporation (NASDAQ:APLD) have changed 46.78%. Short interest in the company has seen 3.34 million shares shorted with days to cover at 3.85.

Wall Street analysts have a consensus price target for the stock at $5.89, which means that the shares’ value could jump 57.39% from current levels. The projected low price target is $3.70 while the price target rests at a high of $10.00. In that case, then, we find that the current price level is -298.41% off the targeted high while a plunge would see the stock gain -47.41% from current levels.

Applied Digital Corporation (APLD) estimates and forecasts

Figures show that Applied Digital Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 29.38% over the past 6 months, with this year growth rate of -192.31%, compared to 12.90% for the industry. Revenue growth from the last financial year stood is estimated to be 817.80%.

7 analysts offering their estimates for the company have set an average revenue estimate of $17.97 million for the current quarter. 7 have an estimated revenue figure of $41.29 million for the next quarter concluding in May 2023. Year-ago sales stood $1.03 million and $7.52 million respectively for this quarter and the next, and analysts expect sales will grow by 1,651.50% for the current quarter and 449.10% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 24.90% over the past 5 years.

APLD Dividends

Applied Digital Corporation is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Applied Digital Corporation (NASDAQ:APLD)’s Major holders

Insiders own 37.80% of the company shares, while shares held by institutions stand at 27.02% with a share float percentage of 43.44%. Investors are also buoyed by the number of investors in a company, with Applied Digital Corporation having a total of 92 institutions that hold shares in the company. The top two institutional holders are Oasis Management Co Ltd. with over 4.34 million shares worth more than $10.89 million. As of Sep 29, 2022, Oasis Management Co Ltd. held 4.59% of shares outstanding.

The other major institutional holder is Hood River Capital Management LLC, with the holding of over 3.23 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $8.1 million and represent 3.41% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Roxbury/Hood River Small Cap Growth Fund and Global X Fds-Global X Blockchain ETF. As of Oct 30, 2022, the former fund manager holds about 1.46% shares in the company for having 1.38 million shares of worth $3.47 million while later fund manager owns 1.29 million shares of worth $3.23 million as of Dec 30, 2022, which makes it owner of about 1.36% of company’s outstanding stock.

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