Applied Digital Corporation (NASDAQ: APLD) stock jumped 8.66% on Monday to $4.39 against a previous-day closing price of $4.04. With 3.06 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.42 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $4.4500 whereas the lowest price it dropped to was $4.0900. The 52-week range on APLD shows that it touched its highest point at $11.62 and its lowest point at $1.45 during that stretch. It currently has a 1-year price target of $15.21. Beta for the stock currently stands at 3.86.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APLD was up-trending over the past week, with a rise of 11.42%, but this was down by -6.40% over a month. Three-month performance dropped to -28.50% while six-month performance fell -47.80%. The stock gained 80.66% in the past year, while it has gained 138.59% so far this year. A look at the trailing 12-month EPS for APLD yields -0.54 with Next year EPS estimates of 1.47. For the next quarter, that number is 0.08. This implies an EPS growth rate of 200.00% for this year and 200.82% for next year.
Float and Shares Shorts:
At present, 95.93 million APLD shares are outstanding with a float of 69.88 million shares on hand for trading. On Oct 30, 2023, short shares totaled 15.34 million, which was 14.43% higher than short shares on Sep 28, 2023. In addition to Mr. Wesley Cummins as the firm’s Chairman, CEO, President, Secretary & Treasurer, Mr. David Rench serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 38.66% of APLD’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 36.41% of APLD, in contrast to 25.60% held by mutual funds. Shares owned by individuals account for 18.47%. As the largest shareholder in APLD with 7.14% of the stake, Hood River Capital Management LLC holds 7,589,567 shares worth 7,589,567. A second-largest stockholder of APLD, BlackRock Fund Advisors, holds 4,028,546 shares, controlling over 3.79% of the firm’s shares. Oasis Management is the third largest shareholder in APLD, holding 3,988,054 shares or 3.75% stake. With a 2.43% stake in APLD, the Hood River Small-Cap Growth Fund is the largest stakeholder. A total of 2,579,423 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.87% of APLD stock, is the second-largest Mutual Fund holder. It holds 1,988,300 shares valued at 9.7 million. iShares Russell 2000 ETF holds 1.49% of the stake in APLD, owning 1,586,398 shares worth 7.74 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APLD since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APLD analysts setting a high price target of $19.00 and a low target of $12.00, the average target price over the next 12 months is $15.21. Based on these targets, APLD could surge 332.8% to reach the target high and rise by 173.35% to reach the target low. Reaching the average price target will result in a growth of 246.47% from current levels.
Summary of Insider Activity:
Insiders traded APLD stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 43 while that of sell transactions has risen to 21 over the past year. The total number of shares bought during that period was 1,637,993 while 743,800 shares were sold.
