In the latest trading session, 3.33 million Applied Digital Corporation (NASDAQ:APLD) shares changed hands as the company’s beta touched 4.94. With the company’s most recent per share price at $7.05 changing hands around $0.05 or 0.64% at last look, the market valuation stands at $1.57B. APLD’s current price is a discount, trading about -77.02% off its 52-week high of $12.48. The share price had its 52-week low at $2.36, which suggests the last value was 66.52% up since then. When we look at Applied Digital Corporation’s average trading volume, we note the 10-day average is 22.9 million shares, with the 3-month average coming to 25.50 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 -0.1.
Applied Digital Corporation (NASDAQ:APLD) trade information
Instantly APLD is in green as seen in intraday trades today. With action 12.90%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -7.79%, with the 5-day performance at 12.90% in the green. However, in the 30-day time frame, Applied Digital Corporation (NASDAQ:APLD) is -10.94% down. Looking at the short shares, we see there were 56.75 million shares sold at short interest cover period of 1.83 days.
The consensus price target for the stock as assigned by Wall Street analysts is 10, meaning bulls need an upside of 29.5% from its recent market value. According to analyst projections, APLD’s forecast low is 10 with 10 as the target high. To hit the forecast high, the stock’s price needs a -41.84% plunge from its current level, while the stock would need to soar -41.84% for it to hit the projected low.
Applied Digital Corporation (APLD) estimates and forecasts
Year-over-year growth is forecast to reach 54.78% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of 62.91M. 7 analysts are of the opinion that Applied Digital Corporation’s revenue for the current quarter will be 68.8M. The company’s revenue for the corresponding quarters a year ago was 43.35M and 43.7M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 45.13%. The estimates for the next quarter sales put growth at 57.43%.
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 2025 estimates are for Applied Digital Corporation earnings to increase by 47.67%, but the outlook for the next 5-year period is at 0.38% per year.
Applied Digital Corporation (NASDAQ:APLD)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 20.08% of Applied Digital Corporation shares while 67.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.48%. There are 67.52% 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 8.4132% 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 6.2229% or 7.1 million shares worth $42.23 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Roxbury/Hood River Small Cap Growth Fund and iShares Russell 2000 ETF. With 9.2 shares estimated at $64.79 million under it, the former controlled 4.13% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.33% of the shares, roughly 5.18 shares worth around $36.49 million.
