In the last trading session, 2.04 million Applied Digital Corporation (NASDAQ:APLD) shares changed hands as the company’s beta touched 3.99. With the company’s per share price at $4.41 changed hands at $0.17 or 4.01% during last session, the market valuation stood at $519.19M. APLD’s last price was a discount, traded about -163.49% off its 52-week high of $11.62. The share price had its 52-week low at $1.99, which suggests the last value was 54.88% up since then. When we look at Applied Digital Corporation’s average trading volume, we note the 10-day average is 2.91 million shares, with the 3-month average coming to 3.47 million.
Applied Digital Corporation (NASDAQ:APLD) trade information
Instantly APLD was in green as seen at the end of in last trading. With action 4.01%, the performance over the past five days has been green. The jump to weekly highs of 4.97 added 4.01% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.57%, with the 5-day performance at 4.01% in the green. However, in the 30-day time frame, Applied Digital Corporation (NASDAQ:APLD) is 9.02% up. Looking at the short shares, we see there were 18.67 million shares sold at short interest cover period of 5.56 days.
Applied Digital Corporation (APLD) estimates and forecasts
Data shows that the Applied Digital Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.64% over the past 6 months, a 28.57% in annual growth rate that is considerably higher than the industry average of 11.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Applied Digital Corporation will rise 12.50%, while the growth in revenue is estimated to hit 71.40% for the next quarter. Year-over-year growth is forecast to reach 300.90% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $56.01 million. 7 analysts are of the opinion that Applied Digital Corporation’s revenue for the quarter ending May 2024 will be $87.55 million. The estimates for the next quarter sales put growth at 297.30%.
The 2024 estimates are for Applied Digital Corporation earnings to increase by 70.75%.
APLD Dividends
Applied Digital Corporation is expected to release its next quarterly earnings report between April 08 and April 23.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 27.76% of Applied Digital Corporation shares while 56.86% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 78.71%. There are 56.86% institutions holding the Applied Digital Corporation stock share, with Hood River Capital Management LLC the top institutional holder. As of Jun 29, 2023, the company held 5.50% of the shares, roughly 5.85 million APLD shares worth $54.7 million.
Oasis Management Co Ltd. holds the second largest percentage of outstanding shares, with 3.96% or 4.21 million shares worth $39.32 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Roxbury/Hood River Small Cap Growth Fund and Vanguard Total Stock Market Index Fund. With 3.34 million shares estimated at $32.04 million under it, the former controlled 3.15% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.74% of the shares, roughly 1.85 million shares worth around $17.31 million.
