Applied Digital (NASDAQ:APLD) Earns Buy Rating from Roth Mkm

Roth Mkm restated their buy rating on shares of Applied Digital (NASDAQ:APLD) 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.

Applied Digital Stock Performance

Shares of Applied Digital stock opened at $4.55 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average is $4.86 and its two-hundred day moving average is $4.32. Applied Digital has a 52 week low of $2.36 and a 52 week high of $8.65. The company has a market capitalization of $624.30 million, a PE ratio of -5.76 and a beta of 4.51.

Applied Digital (NASDAQ:APLD) 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.