If You’re A Risk-Taking Investor, Applied Digital Corporation (NASDAQ: APLD) Is Worth Taking A Chance On.

In the last trading session, 4.18 million shares of the Applied Digital Corporation (NASDAQ:APLD) were traded, and its beta was 4.06. Most recently the company’s share price was $3.82, and it changed around -$0.29 or -7.06% from the last close, which brings the market valuation of the company to $466.23M. APLD currently trades at a discount to its 52-week high of $11.62, offering almost -204.19% off that amount. The share price’s 52-week low was $2.06, which indicates that the current value has risen by an impressive 46.07% since then. We note from Applied Digital Corporation’s average daily trading volume that its 10-day average is 2.55 million shares, with the 3-month average coming to 3.37 million.

Applied Digital Corporation (NASDAQ:APLD) trade information

Instantly APLD has showed a red trend with a performance of -7.06% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -43.32% year-to-date, but still down -13.38% over the last five days. On the other hand, Applied Digital Corporation (NASDAQ:APLD) is -9.26% down in the 30-day period. We can see from the shorts that 19.22 million shares have been sold at a short interest cover period of 6 day(s).

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The consensus price target as assigned by Wall Street analysts is $12.5, which translates to bulls needing to increase their stock price by 69.44% from its current value. Analyst projections state that APLD is forecast to be at a low of $12 and a high of $13.

Applied Digital Corporation (APLD) estimates and forecasts

Applied Digital Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -38.78 percent over the past six months and at a 28.57% annual growth rate that is well above the industry average of 11.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 12.50% in revenue this quarter, and will report an increase of 71.40% in the next quarter. The year-over-year growth rate is expected to be 300.90%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $56.01 million in revenue for the current quarter. 7 analysts expect Applied Digital Corporation to make $87.55 million in revenue for the quarter ending May 2024. Forecasts for the next quarter put sales growth at 297.30%.

APLD Dividends

Applied Digital Corporation’s next quarterly earnings report is expected to be released on April 10.

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

Upon looking at major shareholders, it appears that insiders hold 27.76% of Applied Digital Corporation shares, and 56.86% of them are in the hands of institutional investors. The stock currently has a share float of 78.71%. Applied Digital Corporation stock is held by 195 institutions, with Hood River Capital Management LLC being the largest institutional investor. By Jun 29, 2023, it held 5.50% of the shares, which is about 5.85 million shares worth $54.7 million.

Oasis Management Co Ltd., with 3.96% or 4.21 million shares worth $39.32 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Roxbury/Hood River Small Cap Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jul 30, 2023. The former held 3.34 million shares worth $32.04 million, making up 3.15% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 1.85 million shares worth around $17.31 million, which represents about 1.74% of the total shares outstanding.