Applied Digital (NASDAQ:APLD) Given “Buy” Rating at HC Wainwright

Applied Digital (NASDAQ:APLDGet Free Report)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 14.42% from the stock’s previous close.

Several other equities analysts have also recently issued reports on APLD. B. Riley reduced their price target on shares of Applied Digital from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Lake Street Capital decreased their target price on Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Applied Digital in a research report on Friday, May 17th. Finally, Roth Mkm decreased their price objective on Applied Digital from $13.00 to $8.00 and set a “buy” rating for the company in a report on Friday, April 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital currently has a consensus rating of “Buy” and a consensus target price of $8.20.

View Our Latest Stock Report on APLD

Applied Digital Price Performance

Shares of APLD stock opened at $4.37 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.30. The firm has a market cap of $536.75 million, a P/E ratio of -5.53 and a beta of 4.38. The business’s 50 day moving average price is $3.54 and its 200-day moving average price is $4.70. Applied Digital has a fifty-two week low of $2.36 and a fifty-two week high of $11.62.

Applied Digital (NASDAQ:APLDGet Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $50.36 million. On average, equities research analysts anticipate that Applied Digital will post -1.03 earnings per share for the current year.

Hedge Funds Weigh In On Applied Digital

Several large investors have recently modified their holdings of APLD. Barclays PLC boosted its stake in Applied Digital by 73.6% during the 3rd quarter. Barclays PLC now owns 23,588 shares of the company’s stock valued at $146,000 after purchasing an additional 10,002 shares during the last quarter. Swiss National Bank bought a new position in Applied Digital during the third quarter valued at approximately $856,000. William Blair Investment Management LLC boosted its holdings in Applied Digital by 110.9% in the third quarter. William Blair Investment Management LLC now owns 1,152,940 shares of the company’s stock worth $7,194,000 after purchasing an additional 606,347 shares during the last quarter. Federated Hermes Inc. bought a new stake in Applied Digital in the 3rd quarter worth approximately $755,000. Finally, Millrace Asset Group Inc. purchased a new stake in Applied Digital during the 3rd quarter valued at $982,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

About Applied Digital

(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.

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Analyst Recommendations for Applied Digital (NASDAQ:APLD)

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