Roth Mkm restated their buy rating on shares of Applied Digital (NASDAQ:APLD – Free Report) in a research note released on Thursday, Benzinga reports. Roth Mkm currently has a $10.00 target price on the stock.
Other analysts also recently issued research reports about the stock. HC Wainwright reaffirmed a buy rating and set a $5.00 price target on shares of Applied Digital in a research note on Thursday, August 29th. B. Riley lifted their target price on Applied Digital from $6.00 to $8.00 and gave the company a buy rating in a research report on Friday, June 28th. Finally, Needham & Company LLC reissued a buy rating and set a $11.00 price target on shares of Applied Digital in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $8.20.
Check Out Our Latest Stock Report on Applied Digital
Applied Digital Stock Performance
Applied Digital (NASDAQ:APLD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). Applied Digital had a negative return on equity of 109.89% and a negative net margin of 88.95%. The company had revenue of $43.70 million during the quarter, compared to the consensus estimate of $42.70 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, analysts expect that Applied Digital will post -1.02 earnings per share for the current year.
Institutional Trading of Applied Digital
Hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. bought a new position in shares of Applied Digital in the 1st quarter worth $50,000. Headlands Technologies LLC lifted its position in shares of Applied Digital by 381.8% during the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after buying an additional 6,933 shares during the last quarter. ARS Investment Partners LLC bought a new stake in shares of Applied Digital in the 2nd quarter valued at about $60,000. Capstone Investment Advisors LLC purchased a new position in shares of Applied Digital in the 4th quarter worth approximately $78,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Applied Digital during the 4th quarter worth approximately $81,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.
Applied Digital Company Profile
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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