Applied Digital Corporation (NASDAQ:APLD) finished Friday with a subtraction of -$0.09 to close at $6.24, a downside of -1.42 percent. An average of 3,257,920 shares of common stock have been traded in the last five days. There was a gain of $0.95 in the past week, and it reached a new high 25 times over the past 12 months. The last 20 days have seen an average of 2,999,005 shares traded, while the 50-day average volume stands at 4,335,676.
APLD stock has decreased by -1.73% in the last month. The company shares reached their 1-month lowest point of $4.82 on 09/11/23. With the stock rallying to its 52-week high on 06/23/23, shares of the company touched a low of $1.45 and a high of $11.62 in 52 weeks. It has reached a new high 24 times so far this year and achieved 239.13% or $4.40 in price. In spite of this, the price is down -46.30% from the 52-week high.
Insider Transactions
APLD stock investors should be aware that Applied Digital Corporation (APLD) stock had its last reported insider trading activity 53 days ago on Aug 08. In this transaction, the insider spent $114,707. Director, MOORE VIRGINIA, disposed of 64,011 shares at a price of $2.05 on Mar 27. The insider now owns more than $131,223 worth of shares. Prior to that, Director MOORE VIRGINIA went on to Sale 189,359 shares at $2.06 each on Mar 24. An amount of $390,080 was transacted.
Valuation Metrics
Applied Digital Corporation (APLD) stock’s beta is 4.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.81, the price-to-book (PB) ratio at 10.06.
Financial Health
The quick ratio of Applied Digital Corporation for the three months ended May 30 was 0.40, and the current ratio was 0.40, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.32 and a total debt to equity ratio of 1.56 for the quarter ending May 30. Its gross profit as reported stood at $11.0 million compared to revenue of $55.39 million.
Earnings Surprise
For the three-month period that ended May 30, Applied Digital Corporation had $35.26 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$7.05 million in the quarter, while revenues were shrunk -233.62%. The analyst consensus anticipated Applied Digital Corporation’s latest quarter earnings to come in at -$0.04 per share, but it turned out to be -$0.07, a -75.00% surprise. For the quarter, EBITDA amounted to -$3.61 million. Shareholders own equity worth $103.95 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Applied Digital Corporation (APLD) price momentum. RSI 9-day as of the close on 29 September was 66.79%, suggesting the stock is Neutral, with historical volatility in this time frame at 35.30%.
As of today, APLD’s price is $5.95 +17.96% or $0.95 from its 5-day moving average. APLD is currently trading +3.31% higher than its 20-day SMA and +84.07% higher than its 100-day SMA. However, the stock’s current price level is -19.28% below the SMA50 and +267.06% above the SMA200.
The stochastic %K and %D were 88.20% and 86.13%, respectively, and the average true range (ATR) was 0.44. With the 14-day stochastic at 79.64% and the average true range at 0.48, the RSI (14) stands at 56.57%. The stock has reached 0.60 on the 9-day MACD Oscillator while the 14-day reading was at 0.72.
Analyst Ratings
H.C. Wainwright launched coverage on Applied Digital Corporation (NASDAQ: APLD) in its analyst report released on December 22, 2022. The firm assigned the stock a Buy rating. The consensus rating for Applied Digital Corporation (APLD) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell APLD, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is APLD’s price target for the next 12 months?
Analysts predict a range of price targets between $12.00 and $19.00, with a median target of $15.50. Taking a look at these predictions, the average price target given by analysts for Applied Digital Corporation (APLD) stock is $15.42.
