Applied Digital (NASDAQ:APLD) Shares Down 3.7% – Here’s What Happened

21 Mar 2025, 18:00 by Sarita Garza · The Markets Daily

Applied Digital Co. (NASDAQ:APLD – Get Free Report)’s share price was down 3.7% during mid-day trading on Friday . The company traded as low as $6.99 and last traded at $7.02. Approximately 3,394,034 shares traded hands during trading, a decline of 87% from the average daily volume of 26,302,871 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

A number of research analysts have issued reports on APLD shares. Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Cantor Fitzgerald lowered their price target on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Northland Securities upped their price target on Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Compass Point assumed coverage on Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price for the company. Finally, HC Wainwright increased their target price on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital currently has an average rating of “Buy” and a consensus target price of $12.11.

View Our Latest Analysis on APLD

Applied Digital Trading Down 3.2 %

The company has a market cap of $1.57 billion, a price-to-earnings ratio of -4.08 and a beta of 4.69. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a fifty day moving average price of $7.96 and a 200 day moving average price of $7.89.

Applied Digital (NASDAQ:APLD – Get Free Report) last released its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million during the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) EPS. As a group, equities analysts predict that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Insider Activity

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the sale, the director now owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Applied Digital

Several hedge funds have recently added to or reduced their stakes in the business. Hood River Capital Management LLC lifted its holdings in Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company’s stock valued at $115,726,000 after purchasing an additional 1,464,854 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock worth $97,487,000 after buying an additional 3,587,619 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Applied Digital by 54.4% during the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company’s stock worth $36,117,000 after buying an additional 1,665,335 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Applied Digital by 113.8% during the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock worth $33,649,000 after buying an additional 2,344,572 shares in the last quarter. Finally, Pertento Partners LLP lifted its holdings in shares of Applied Digital by 49.0% during the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company’s stock worth $19,319,000 after buying an additional 831,705 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

About Applied Digital

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