Applied Digital (NASDAQ:APLD) Given Outperform Rating at Northland Securities

Northland Securities restated their outperform rating on shares of Applied Digital (NASDAQ:APLD) in a report released on Tuesday morning,Benzinga reports. They currently have a $40.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Applied Digital in a research note on Wednesday, October 29th. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Citigroup reissued an “outperform” rating on shares of Applied Digital in a report on Tuesday. Compass Point assumed coverage on Applied Digital in a research report on Monday, September 15th. They issued a “buy” rating for the company. Finally, HC Wainwright lifted their price target on Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Applied Digital Stock Down 2.8%

APLD opened at $24.12 on Tuesday. The stock’s 50 day moving average price is $27.98 and its 200 day moving average price is $20.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $6.74 billion, a P/E ratio of -21.35 and a beta of 6.94. Applied Digital has a 12 month low of $3.31 and a 12 month high of $40.20.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The company had revenue of $64.22 million during the quarter, compared to analysts’ expectations of $52.25 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, research analysts predict that Applied Digital will post -0.96 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Trading of Applied Digital

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

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.