Roth Mkm Reiterates Buy Rating for Applied Digital (NASDAQ:APLD)

Roth Mkm reissued their buy rating on shares of Applied Digital (NASDAQ:APLD) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $10.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. B. Riley upped their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the company a buy rating in a report on Friday, September 13th. Craig Hallum increased their price target on Applied Digital from $10.00 to $12.00 and gave the stock a buy rating in a report on Thursday. Needham & Company LLC reissued a buy rating and issued a $11.00 price target on shares of Applied Digital in a research report on Thursday. Finally, HC Wainwright restated a buy rating and set a $5.00 price objective on shares of Applied Digital in a report on Thursday, August 29th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital currently has a consensus rating of Buy and an average target price of $9.67.

Applied Digital Stock Up 5.7 %

Shares of Applied Digital stock opened at $7.28 on Thursday. The firm has a market cap of $998.88 million, a price-to-earnings ratio of -9.22 and a beta of 4.56. The stock’s 50-day moving average is $5.54 and its 200 day moving average is $4.79. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.08 and a quick ratio of 0.08. Applied Digital has a one year low of $2.36 and a one year high of $8.78.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, October 9th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.13. Applied Digital had a negative net margin of 74.95% and a negative return on equity of 107.05%. The company had revenue of $60.70 million during the quarter, compared to the consensus estimate of $54.85 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s quarterly revenue was up 67.2% on a year-over-year basis. Equities research analysts anticipate that Applied Digital will post -1.12 EPS for the current year.

Insider Activity at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total transaction of $55,000.00. Following the transaction, the director now directly owns 218,506 shares of the company’s stock, valued at $1,201,783. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Digital

Several hedge funds have recently modified their holdings of APLD. Plustick Management LLC grew its holdings in shares of Applied Digital by 16.7% in the fourth quarter. Plustick Management LLC now owns 490,000 shares of the company’s stock valued at $3,303,000 after acquiring an additional 70,000 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Applied Digital during the 4th quarter valued at $81,000. B. Riley Wealth Advisors Inc. raised its stake in shares of Applied Digital by 9.9% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 512,582 shares of the company’s stock worth $3,455,000 after purchasing an additional 46,150 shares during the period. Nomura Holdings Inc. purchased a new position in shares of Applied Digital in the 4th quarter worth about $183,000. Finally, Register Financial Advisors LLC increased its holdings in Applied Digital by 74.0% during the first quarter. Register Financial Advisors LLC now owns 323,400 shares of the company’s stock worth $1,384,000 after buying an additional 137,500 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

About Applied Digital

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.