Applied Digital (NASDAQ:APLD) Given “Buy” Rating at Lake Street Capital

Lake Street Capital reiterated their buy rating on shares of Applied Digital (NASDAQ:APLD) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $45.00 price target on the stock.

APLD has been the subject of a number of other reports. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research note on Tuesday. HC Wainwright raised their target price on Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price target on shares of Applied Digital in a research note on Wednesday, October 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research report on Wednesday, October 8th. Finally, Northland Securities restated an “outperform” rating and set a $40.00 price objective on shares of Applied Digital in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Applied Digital presently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Applied Digital Trading Down 2.8%

APLD opened at $24.12 on Tuesday. The firm has a 50 day simple moving average of $27.98 and a 200 day simple moving average of $20.84. Applied Digital has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The company has a market cap of $6.74 billion, a price-to-earnings ratio of -21.35 and a beta of 6.94. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.65 and a quick ratio of 0.65.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The firm had revenue of $64.22 million for the quarter, compared to analysts’ expectations of $52.25 million. During the same period last year, the firm earned ($0.15) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Digital will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,213 shares of Applied Digital stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $33.20, for a total value of $803,871.60. Following the transaction, the director owned 59,400 shares of the company’s stock, valued at approximately $1,972,080. The trade was a 28.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mohammad Saidal Lavanw Mohmand sold 100,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $34.08, for a total transaction of $3,408,000.00. Following the sale, the chief financial officer directly owned 158,912 shares of the company’s stock, valued at $5,415,720.96. This represents a 38.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 328,035 shares of company stock worth $11,376,479 over the last three months. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On Applied Digital

A number of institutional investors and hedge funds have recently added to or reduced their stakes in APLD. Invesco Ltd. increased its holdings in Applied Digital by 76.1% during the 1st quarter. Invesco Ltd. now owns 192,789 shares of the company’s stock worth $1,083,000 after purchasing an additional 83,333 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Applied Digital by 11.7% during the first quarter. Wellington Management Group LLP now owns 19,056 shares of the company’s stock worth $107,000 after buying an additional 2,001 shares during the period. Corebridge Financial Inc. raised its position in Applied Digital by 2.0% in the 1st quarter. Corebridge Financial Inc. now owns 97,224 shares of the company’s stock valued at $546,000 after buying an additional 1,899 shares during the last quarter. AQR Capital Management LLC lifted its stake in Applied Digital by 84.8% in the 1st quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock valued at $106,000 after acquiring an additional 8,692 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Applied Digital by 27.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,146,400 shares of the company’s stock worth $12,063,000 after acquiring an additional 462,527 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Applied Digital

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Analysts reaffirmed bullish ratings with sizable price targets: Northland Securities reiterated an “outperform” and a $40 target, and Lake Street Capital kept a “buy” with a $45 target — both imply large upside from the current price. Read More.
• Positive Sentiment: Applied Digital announced plans to spin out its cloud business and combine it with Ekso Bionics to form “ChronoScale,” a focused AI/GPU-accelerated compute platform — a strategic move to create a pure-play cloud/AI asset that could unlock value. Read More.
• Positive Sentiment: Market coverage and headlines show immediate positive market reaction to the spinoff news, with multiple outlets noting intraday gains tied to the ChronoScale announcement. Read More.
• Neutral Sentiment: The proposed combination with EKSO is currently governed by a non‑binding term sheet and remains subject to definitive agreements, regulatory approvals and closing conditions — timing and final economics are uncertain. Read More.
• Neutral Sentiment: Company fundamentals and market structure add volatility risk: APLD has a high beta and wide trading range (52-week low $3.31 / high $40.20), so news-driven swings are common and can amplify short-term moves. (Background market data)
• Negative Sentiment: Separately, coverage explaining recent declines highlights investor concerns that can pressure sentiment — for example, a Forbes piece examines why the stock fell on Friday, which may have carried over into recent trading. Read More.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.