Recent Research Analysts’ Ratings Changes for Applied Digital (APLD)

Several brokerages have updated their recommendations and price targets on shares of Applied Digital (NASDAQ: APLD) in the last few weeks:

• 4/12/2024 – Applied Digital had its price target lowered by analysts at Lake Street Capital from $19.00 to $7.00. They now have a “buy” rating on the stock.
• 4/12/2024 – Applied Digital had its price target lowered by analysts at Roth Mkm from $13.00 to $8.00. They now have a “buy” rating on the stock.
• 4/12/2024 – Applied Digital had its price target lowered by analysts at Needham & Company LLC from $13.00 to $11.00. They now have a “buy” rating on the stock.
• 4/5/2024 – Applied Digital had its price target lowered by analysts at B. Riley from $10.00 to $8.00. They now have a “buy” rating on the stock.
• 3/18/2024 – Applied Digital had its price target lowered by analysts at Needham & Company LLC from $16.00 to $13.00. They now have a “buy” rating on the stock.

Applied Digital Stock Performance

Shares of NASDAQ APLD opened at $2.71 on Tuesday. The company has a market cap of $332.63 million, a PE ratio of -3.43 and a beta of 4.12. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.30 and a quick ratio of 0.30. The company has a 50-day simple moving average of $3.93 and a 200-day simple moving average of $4.98.

Insider Transactions at Applied Digital

In other news, Director Virginia Moore sold 30,000 shares of Applied Digital stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total transaction of $142,200.00. Following the completion of the sale, the director now directly owns 148,630 shares in the company, valued at $704,506.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 23.70% of the company’s stock.

Institutional Investors Weigh In On Applied Digital

A number of institutional investors have recently bought and sold shares of APLD. Tower Research Capital LLC TRC grew its holdings in Applied Digital by 380.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,017 shares of the company’s stock valued at $54,000 after purchasing an additional 6,347 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in Applied Digital during the third quarter valued at approximately $68,000. Capstone Investment Advisors LLC acquired a new position in Applied Digital during the fourth quarter valued at approximately $78,000. ICA Group Wealth Management LLC acquired a new position in shares of Applied Digital during the fourth quarter worth $81,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of Applied Digital during the fourth quarter worth $86,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

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.