Applied Digital Corporation (NASDAQ: APLD) Could See Prices Soar In The Coming Months

In the last trading session, 3.21 million shares of the Applied Digital Corporation (NASDAQ:APLD) were traded, and its beta was 4.19. Most recently the company’s share price was $2.47, and it changed around $0.08 or 3.35% from the last close, which brings the market valuation of the company to $303.17M. APLD currently trades at a discount to its 52-week high of $11.62, offering almost -370.45% off that amount. The share price’s 52-week low was $2.36, which indicates that the current value has risen by an impressive 4.45% since then. We note from Applied Digital Corporation’s average daily trading volume that its 3-month average coming to 3.43 million.

Applied Digital Corporation (NASDAQ:APLD) trade information

Instantly APLD has showed a green trend with a performance of 3.35% 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 -63.35% year-to-date, but still down -8.86% over the last five days. On the other hand, Applied Digital Corporation (NASDAQ:APLD) is -46.88% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $9.33, which translates to bulls needing to increase their stock price by 73.53% from its current value. Analyst projections state that APLD is forecast to be at a low of $7 and a high of $12.

Applied Digital Corporation (APLD) estimates and forecasts

Applied Digital Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -49.12 percent over the past six months and at a -75.51% annual growth rate that is well below the industry average of 10.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -285.70% in revenue this quarter, and will report a decrease of -16.70% in the next quarter. The year-over-year growth rate is expected to be 169.90%, up from the previous year.