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Applied Digital Corporation (NASDAQ: APLD) Friday – The Stock Is Down -1256.0% Since The Lows, What Comes Next?

Applied Digital Corporation (NASDAQ:APLD)’s traded shares stood at 1.33 million during the last session, with the company’s beta value hitting 4.83. At the close of trading, the stock’s price was $2.00, to imply an increase of 0.50% or $0.01 in intraday trading. The APLD share’s 52-week high remains $27.12, putting it -1256.0% down since that peak but still an impressive 57.5% since price per share fell to its 52-week low of $0.85. The company has a valuation of $204.60M, with an average of 0.83 million shares in intraday trading volume over the past 10 days and average of 823.68K shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Applied Digital Corporation (APLD), translating to a mean rating of 2.00. Of 7 analyst(s) looking at the stock, 0 analyst(s) give APLD a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 7 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.06.

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Applied Digital Corporation (NASDAQ:APLD) trade information

After registering a 0.50% upside in the last session, Applied Digital Corporation (APLD) has traded red over the past five days. The stock hit a weekly high of 2.1400 this Friday, 03/17/23, jumping 0.50% in its intraday price action. The 5-day price performance for the stock is 6.95%, and -35.06% over 30 days. With these gigs, the year-to-date price performance is 8.70%. Short interest in Applied Digital Corporation (NASDAQ:APLD) saw shorts transact 2.55 million shares and set a 2.41 days time to cover.

Analysts on Wall Street suggest a consensus price target of $5.89, implying an increase of 66.04% to the stock’s current value. The extremes give us $3.70 and $10.00 for target low and target high price respectively. As such, APLD has been trading -400.0% off suggested target high and -85.0% from its likely low.

Applied Digital Corporation (APLD) estimates and forecasts

Looking at statistics comparing Applied Digital Corporation share performance against respective industry, we note that the company has underperformed competitors. Applied Digital Corporation (APLD) shares are 1.01% up over the last 6 months, with its year-to-date growth rate lower than industry average at -200.00% against 17.30%. The rating firms project that company’s revenue will grow 802.00% compared to the previous financial year.

Revenue forecast for the current quarter as set by 7 analysts is $17.17 million. Meanwhile, for the quarter ending May 2023, a total of 7 analyst(s) estimate revenue growth to $40.67 million.Earnings reports from the last fiscal year show that sales brought in $1.03 million and $7.52 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 1,573.50% before jumping 440.80% in the following quarter.

APLD Dividends

Applied Digital Corporation has its next earnings report out on January 09. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Applied Digital Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Applied Digital Corporation insiders hold 37.81% of total outstanding shares, with institutional holders owning 27.35% of the shares at 43.98% float percentage. In total, 27.35% institutions holds shares in the company, led by Oasis Management Co Ltd. As of Sep 29, 2022, the company held over 4.34 million shares (or 4.59% of shares), all amounting to roughly $7.38 million.

The next major institution holding the largest number of shares is Hood River Capital Management LLC with 3.23 million shares, or about 3.41% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $5.48 million.

We also have Roxbury/Hood River Small Cap Growth Fund and Global X Fds-Global X Blockchain ETF as the top two Mutual Funds with the largest holdings of the Applied Digital Corporation (APLD) shares. Going by data provided on Oct 30, 2022, Roxbury/Hood River Small Cap Growth Fund holds roughly 1.38 million shares. This is just over 1.46% of the total shares, with a market valuation of $3.11 million. Data from the same date shows that the other fund manager holds a little less at 1.29 million, or 1.36% of the shares, all valued at about 2.37 million.

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