In the last trading session, 22.04 million shares of the Applied Digital Corporation (NASDAQ:APLD) were traded, and its beta was 4.45. Most recently the company’s share price was $7.23, and it changed around $0.37 or 5.39% from the last close, which brings the market valuation of the company to $1.64B. APLD currently trades at a discount to its 52-week high of $9.48, offering almost -31.12% off that amount. The share price’s 52-week low was $2.36, which indicates that the current value has risen by an impressive 67.36% since then. We note from Applied Digital Corporation’s average daily trading volume that its 10-day average is 12.38 million shares, with the 3-month average coming to 14.52 million.
Applied Digital Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 0 recommended APLD as a Hold, whereas 7 deemed it a Buy, and 0 rated it as Underweight. Applied Digital Corporation is expected to report earnings per share of -0.12 for the current quarter.
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Applied Digital Corporation (NASDAQ:APLD) trade information
Instantly APLD has showed a green trend with a performance of 5.39% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 8.22 on recent trading dayincreased the stock’s daily price by 12.04%. The company’s shares are currently up 7.27% year-to-date, but still down -4.37% over the last five days. On the other hand, Applied Digital Corporation (NASDAQ:APLD) is -9.06% down in the 30-day period. We can see from the shorts that 27.02 million shares have been sold at a short interest cover period of 2.08 day(s).
The consensus price target as assigned by Wall Street analysts is $10, which translates to bulls needing to increase their stock price by 27.7% from its current value. Analyst projections state that APLD is forecast to be at a low of $7 and a high of $11.
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 risen 74.64 percent over the past six months and at a 69.47% annual growth rate that is well above the industry average of 9.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -145.00% in revenue this quarter, and will report an increase of 46.87% in the next quarter. The year-over-year growth rate is expected to be 52.43%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 62.62M in revenue for the current quarter. 5 analysts expect Applied Digital Corporation to make 62.78M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 42.2M and 43.35M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 48.38%. Forecasts for the next quarter put sales growth at 44.82%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -65.58%.
APLD Dividends
Applied Digital Corporation’s next quarterly earnings report is expected to be released in December.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 19.73% of Applied Digital Corporation shares, and 63.77% of them are in the hands of institutional investors. The stock currently has a share float of 79.44%. Applied Digital Corporation stock is held by 226.0 institutions, with HOOD RIVER CAPITAL MANAGEMENT LLC being the largest institutional investor. By 2024-06-30, it held 7.9029% of the shares, which is about 9.6 million shares worth $57.1 million.
OASIS MANAGEMENT CO LTD., with 5.8454% or 7.1 million shares worth $42.23 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
