During the last session, Applied Digital Corporation (NASDAQ:APLD)’s traded shares were 21.07 million, with the beta value of the company hitting 4.51. At the end of the trading day, the stock’s price was $9.15, reflecting an intraday gain of 4.45% or $0.39. The 52-week high for the APLD share is $9.68, that puts it down -5.79 from that peak though still a striking 74.21% gain since the share price plummeted to a 52-week low of $2.36. The company’s market capitalization is $1.97B, and the average intraday trading volume over the past 10 days was 16.47 million shares, and the average trade volume was 15.86 million shares over the past three months.
Applied Digital Corporation (APLD) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. APLD has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 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 -0.12.
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Applied Digital Corporation (NASDAQ:APLD) trade information
Applied Digital Corporation (APLD) registered a 4.45% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 4.45% in intraday trading to $9.15, hitting a weekly high. The stock’s 5-day price performance is 33.38%, and it has moved by 6.27% in 30 days. Based on these gigs, the overall price performance for the year is 104.70%. The short interest in Applied Digital Corporation (NASDAQ:APLD) is 27.02 million shares and it means that shorts have 2.08 day(s) to cover.
The consensus price target of analysts on Wall Street is $10, which implies an increase of 8.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7 and $11 respectively. As a result, APLD is trading at a discount of -20.22% off the target high and 23.5% off the low.
Applied Digital Corporation (APLD) estimates and forecasts
Statistics show that Applied Digital Corporation has outperformed its competitors in share price, compared to the industry in which it operates. Applied Digital Corporation (APLD) shares have gone up 115.29% during the last six months, with a year-to-date growth rate more than the industry average at 69.47% against 8.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -145.00% this quarter and then jump 46.87% in the quarter after that. In the rating firms’ projections, revenue will increase 52.43% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 62.62M as predicted by 6 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to 62.78M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 42.2M and 43.35M respectively. In this case, analysts expect current quarter sales to grow by 48.38% and then jump by 44.82% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -65.58%. While earnings are projected to return 64.12% in 2024.
APLD Dividends
Applied Digital Corporation is due to release its next quarterly earnings in December. 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 19.73% of total outstanding shares while institutional holders control 63.89%, with the float percentage being 79.59%. HOOD RIVER CAPITAL MANAGEMENT LLC is the largest shareholder of the company, while 228.0 institutions own stock in it. As of 2024-06-30, the company held over 9.6 million shares (or 7.9029% of all shares), a total value of $57.1 million in shares.
The next largest institutional holding, with 7.1 million shares, is of OASIS MANAGEMENT CO LTD.’s that is approximately 5.8454% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $42.23 million.
