During the last session, Applied Digital Corporation (NASDAQ:APLD)’s traded shares were 5.97 million, with the beta value of the company hitting 3.98. At the end of the trading day, the stock’s price was $9.09, reflecting an intraday gain of 14.48% or $1.15. The 52-week high for the APLD share is $8.99, that puts it up 1.1 from that peak though still a striking 90.65% gain since the share price plummeted to a 52-week low of $0.85. The company’s market capitalization is $743.83M, and the average intraday trading volume over the past 10 days was 15.21 million shares, and the average trade volume was 3.00 million shares over the past three months.
Applied Digital Corporation (APLD) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. APLD has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.03.
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Applied Digital Corporation (NASDAQ:APLD) trade information
Applied Digital Corporation (APLD) registered a 14.48% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 14.48% in intraday trading to $9.09 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 28.94%, and it has moved by 197.06% in 30 days. Based on these gigs, the overall price performance for the year is 155.34%. The short interest in Applied Digital Corporation (NASDAQ:APLD) is 2.83 million shares and it means that shorts have 3.21 day(s) to cover.
Applied Digital Corporation (APLD) estimates and forecasts
Statistics show that Applied Digital Corporation has underperformed its competitors in share price, compared to the industry in which it operates. Applied Digital Corporation (APLD) shares have gone up 324.77% during the last six months, with a year-to-date growth rate less than the industry average at -246.15% against 1.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 25.00% this quarter and then jump 180.00% in the quarter after that. In the rating firms’ projections, revenue will increase 607.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $30.28 million as predicted by 7 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $55.09 million by the end of Aug 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $7.52 million and $6.64 million respectively. In this case, analysts expect current quarter sales to grow by 302.70% and then jump by 729.70% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 24.90%. While earnings are projected to return -7.30% in 2023.
Applied Digital Corporation is due to release its next quarterly earnings on April 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
Applied Digital Corporation insiders own 38.22% of total outstanding shares while institutional holders control 34.44%, with the float percentage being 55.74%. Hood River Capital Management LLC is the largest shareholder of the company, while 95 institutions own stock in it. As of Mar 30, 2023, the company held over 4.67 million shares (or 4.87% of all shares), a total value of $42.47 million in shares.
The next largest institutional holding, with 4.46 million shares, is of Oasis Management Co Ltd.’s that is approximately 4.65% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $40.54 million.
Also, the Mutual Funds coming in first place with the largest holdings of Applied Digital Corporation (APLD) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 1.84 million shares. This amounts to just over 1.93 percent of the company’s overall shares, with a $16.69 million market value. The same data shows that the other fund manager holds slightly less at 1.52 million, or about 1.60% of the stock, which is worth about $13.82 million.