Applied Digital (OTCMKTS:APLD) Stock Price Down 8% – Here’s Why

Applied Digital Co. (OTCMKTS:APLD)’s stock price was down 8% during mid-day trading on Friday . The company traded as low as $29.04 and last traded at $29.0080. Approximately 11,677,850 shares were traded during trading, a decline of 67% from the average daily volume of 35,134,344 shares. The stock had previously closed at $31.53.

Applied Digital Price Performance

The company has a fifty day simple moving average of $31.99 and a two-hundred day simple moving average of $26.84. The stock has a market capitalization of $8.12 billion, a price-to-earnings ratio of -59.26 and a beta of 7.25. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.40 and a current ratio of 0.40.

Applied Digital Company Profile

Applied Digital (OTCMKTS:APLD) is a developer and operator of digital infrastructure specializing in high-intensity computing applications. The company designs, builds and manages large-scale data center campuses and modular computing facilities that leverage advanced cooling technologies to optimize performance and energy efficiency. Its core offerings include turnkey deployment of server racks, immersion cooling systems and proprietary control software aimed at serving blockchain networks, artificial intelligence workloads and other compute-intensive clients.

In addition to its data center services, Applied Digital maintains in-house blockchain validation operations, most prominently focused on bitcoin mining.