In the last trading session, 9.29 million Applied Digital Corporation (NASDAQ:APLD) shares changed hands as the company’s beta touched 4.58. With the company’s per share price at $9.57 changed hands at -$0.05 or -0.52% during last session, the market valuation stood at $2.02B. APLD’s last price was a discount, traded about -14.32% off its 52-week high of $10.94. The share price had its 52-week low at $2.36, which suggests the last value was 75.34% up since then. When we look at Applied Digital Corporation’s average trading volume, we note the 10-day average is 20.47 million shares, with the 3-month average coming to 17.34 million.
Analysts gave the Applied Digital Corporation (APLD) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended APLD as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. Applied Digital Corporation’s EPS for the current quarter is expected to be -0.12.
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Applied Digital Corporation (NASDAQ:APLD) trade information
Instantly APLD was in red as seen at the end of in last trading. With action -10.39%, the performance over the past five days has been red. The company’s shares are showing year-to-date upside of 41.99%, with the 5-day performance at -10.39% in the red. However, in the 30-day time frame, Applied Digital Corporation (NASDAQ:APLD) is 48.14% up. Looking at the short shares, we see there were 39.29 million shares sold at short interest cover period of 2.92 days.
The consensus price target for the stock as assigned by Wall Street analysts is 10, meaning bulls need an upside of 4.3% from its current market value. According to analyst projections, APLD’s forecast low is 7 with 11 as the target high. To hit the forecast high, the stock’s price needs a -14.94% plunge from its current level, while the stock would need to tank 26.85% for it to hit the projected low.
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 125.18% over the past 6 months, a 69.47% in annual growth rate that is considerably higher than the industry average of 8.00%. Year-over-year growth is forecast to reach 52.43% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of 62.63M. 5 analysts are of the opinion that Applied Digital Corporation’s revenue for the current quarter will be 62.78M. The company’s revenue for the corresponding quarters a year ago was 42.2M and 43.35M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 48.40%. The estimates for the next quarter sales put growth at 44.82%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -65.58%. The 2024 estimates are for Applied Digital Corporation earnings to increase by 64.01%.
APLD Dividends
Applied Digital Corporation is expected to release its next quarterly earnings report in January.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 20.76% of Applied Digital Corporation shares while 65.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.29%. There are 65.21% institutions holding the Applied Digital Corporation stock share, with HOOD RIVER CAPITAL MANAGEMENT LLC the top institutional holder. As of 2024-06-30, the company held 7.9029% of the shares, roughly 9.6 million APLD shares worth $57.1 million.
OASIS MANAGEMENT CO LTD. holds the second largest percentage of outstanding shares, with 5.8454% or 7.1 million shares worth $42.23 million as of 2024-06-30.
