Applied Digital (NASDAQ:APLD) Stock Rating Upgraded by Zacks Research

Applied Digital (NASDAQ:APLD) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday,Zacks.com reports.

Several other research analysts have also issued reports on the company. Arete Research initiated coverage on Applied Digital in a research report on Wednesday, January 7th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Needham & Company LLC boosted their price objective on Applied Digital to $48.00 and gave the company a “buy” rating in a report on Friday, April 24th. Roth Mkm reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Applied Digital in a research report on Thursday, April 23rd. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $40.00 target price on shares of Applied Digital in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.33.

Applied Digital Trading Down 0.7%

Shares of APLD opened at $41.25 on Thursday. The company’s fifty day simple moving average is $28.99 and its 200-day simple moving average is $30.13. The company has a market cap of $11.79 billion, a P/E ratio of -55.74 and a beta of 5.69. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital has a twelve month low of $5.13 and a twelve month high of $44.25.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The firm had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The business’s revenue for the quarter was up 139.3% on a year-over-year basis. As a group, analysts expect that Applied Digital will post -0.52 EPS for the current year.

Insider Activity

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,000 shares of company stock valued at $1,182,175 over the last 90 days. 9.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Applied Digital

Several institutional investors have recently bought and sold shares of the business. Noble Wealth Management PBC bought a new position in Applied Digital in the fourth quarter worth approximately $25,000. Albion Financial Group UT purchased a new stake in Applied Digital during the fourth quarter worth $25,000. Activest Wealth Management bought a new stake in Applied Digital during the 4th quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in Applied Digital during the 4th quarter valued at $25,000. Finally, McMillan Office Inc. purchased a new position in shares of Applied Digital in the 4th quarter valued at $25,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Key Applied Digital News

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital’s share price is being supported by continued momentum after its latest earnings report, with traders focusing on the company’s strong revenue growth and expectations tied to its AI/data center expansion. Why Is Applied Digital Corporation (APLD) Up 62.4% Since Last Earnings Report?
• Positive Sentiment: Analyst coverage remains favorable, with consensus ratings pointing to a “Moderate Buy,” which can help reinforce bullish sentiment around the stock. Applied Digital Corporation (NASDAQ:APLD) Given Consensus Recommendation of “Moderate Buy” by Analysts
• Positive Sentiment: Coverage highlighting Applied Digital’s move to all-time highs and its role in the AI data center buildout is adding to the market’s bullish narrative. APLD breaks to all-time highs: How to trade the AI data center buildout right now
• Neutral Sentiment: Applied Digital finalized the ChronoScale spin-off and retained control, a structural update that may reshape the business but does not yet clearly signal an immediate earnings impact. Applied Digital Finalizes ChronoScale Spin-Off and Retains Control
• Neutral Sentiment: Comparisons with another financial services company are largely informational and are unlikely to be a major driver of APLD’s stock price. Critical Comparison: Applied Digital (NASDAQ:APLD) vs. Freedom (NASDAQ:FRHC)
• Negative Sentiment: The ChronoScale spin-off also creates some uncertainty around how value will be allocated between the remaining business and the new listing, which can temper enthusiasm for some investors. CHRN Stock Just Started Trading as Applied Digital Spins Off ChronoScale. How to Play Shares Here.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.