In today’s recent session, 4.25 million shares of the Applied Digital Corporation (NASDAQ:APLD) have been traded, and its beta is 4.66. Most recently the company’s share price was $8.49, and it changed around -$0.41 or -4.61% from the last close, which brings the market valuation of the company to $1.89B. APLD at last check was trading at a discount to its 52-week high of $11.25, offering almost -32.51% off that amount. The share price’s 52-week low was $2.36, which indicates that the recent value has risen by an impressive 72.2% since then. We note from Applied Digital Corporation’s average daily trading volume that its 10-day average is 25.79 million shares, with the 3-month average coming to 17.82 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 8 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 0 recommended APLD as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Applied Digital Corporation is expected to report earnings per share of -0.1 for the current quarter.
Applied Digital Corporation (NASDAQ:APLD) trade information
Instantly APLD has been showing red trend so far today with a performance of -4.61% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 9.73 on recent trading dayincreased the stock’s daily price by 12.74%. The company’s shares are currently up 11.13% year-to-date, but still up 9.34% over the last five days. On the other hand, Applied Digital Corporation (NASDAQ:APLD) is -12.38% down in the 30-day period. We can see from the shorts that 49.1 million shares have been sold at a short interest cover period of 2.87 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 5.67% from its current value. Analyst projections state that APLD is forecast to be at a low of $1.67 and a high of $10.
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 48.43 percent over the past six months and at a 38.93% annual growth rate that is well above the industry average of 6.60%. The year-over-year growth rate is expected to be 52.02%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 62.78M in revenue for the current quarter. 6 analysts expect Applied Digital Corporation to make 64.37M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 43.35M and 43.7M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 44.82%. Forecasts for the next quarter put sales growth at 47.30%.
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 February.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 21.14% of Applied Digital Corporation shares, and 66.47% of them are in the hands of institutional investors. The stock currently has a share float of 84.28%. Applied Digital Corporation stock is held by 231.0 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.
Roxbury/Hood River Small Cap Growth Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Oct 31, 2024 . The former held 9.08 shares worth $78.78 million, making up 4.07% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 3.54 shares worth around $30.7 million, which represents about 1.59% of the total shares outstanding.
