Applied Digital (NASDAQ:APLD – Get Free Report)‘s stock had its “buy” rating restated by analysts at Roth Mkm in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $11.00 price target on the stock. Roth Mkm’s price target points to a potential upside of 87.07% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Applied Digital in a research report on Wednesday, June 12th. Lake Street Capital lowered their price objective on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a research note on Friday, June 14th. Finally, B. Riley increased their target price on shares of Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $8.40.

Get Our Latest Research Report on Applied Digital

Applied Digital Price Performance

Applied Digital stock opened at $5.88 on Wednesday. Applied Digital has a 12-month low of $2.36 and a 12-month high of $11.07. The stock has a market cap of $806.79 million, a P/E ratio of -7.44 and a beta of 4.56. The company has a 50-day moving average price of $4.83 and a 200 day moving average price of $4.71. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Applied Digital (NASDAQ:APLD – Get Free Report) last announced its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.40). Applied Digital had a negative net margin of 61.84% and a negative return on equity of 75.46%. The company had revenue of $43.35 million for the quarter, compared to analyst estimates of $50.36 million. Sell-side analysts anticipate that Applied Digital will post -1.03 earnings per share for the current year.

Institutional Investors Weigh In On Applied Digital

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Applied Digital by 40.6% during the third quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company’s stock worth $20,814,000 after buying an additional 963,390 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Applied Digital by 32.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 849,174 shares of the company’s stock worth $5,723,000 after purchasing an additional 209,692 shares during the last quarter. Register Financial Advisors LLC lifted its holdings in shares of Applied Digital by 28.3% during the fourth quarter. Register Financial Advisors LLC now owns 185,900 shares of the company’s stock worth $1,253,000 after purchasing an additional 41,000 shares during the period. SG Americas Securities LLC purchased a new position in Applied Digital in the 4th quarter valued at $187,000. Finally, Woodmont Investment Counsel LLC increased its stake in Applied Digital by 27.0% in the 4th quarter. Woodmont Investment Counsel LLC now owns 240,170 shares of the company’s stock valued at $1,619,000 after buying an additional 51,101 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Company Profile

(Get Free Report)

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

Featured Stories

Receive News & Ratings for Applied Digital Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Applied Digital and related companies with MarketBeat.com’s FREE daily email newsletter.