In yesterday’s Wall Street session, Applied Digital Corporation (NASDAQ:APLD) shares traded at $7.92, down -1.12% from the previous session.
APLD stock price is now -6.08% away from the 50-day moving average and 39.61% away from the 200-day moving average. The market capitalization of the company currently stands at $1.67B.
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With the price target of $15, Cantor Fitzgerald recently initiated with Overweight rating for Applied Digital Corporation (NASDAQ: APLD). On October 03, 2023, ROTH MKM recently initiated its ‘Buy’ rating on the stock quoting a target price of $14, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, Cummins Wes, CEO; Chairman sold 200,000 shares of the company’s stock on Nov 27 ’24. The stock was sold for $1,840,000 at an average price of $9.20. Upon completion of the transaction, the CEO; Chairman now directly owns 3,875,955 shares in the company, valued at $30.7 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 27 ’24, Director Nottenburg Richard N sold 50,000 shares of the business’s stock. A total of $460,000 was realized by selling the stock at an average price of $9.20. This leaves the insider owning 334,317 shares of the company worth $2.65 million. A total of 24.42% of the company’s stock is owned by insiders.
During the past 12 months, Applied Digital Corporation has had a low of $2.36 and a high of $11.25. As of last week, the company has a debt-to-equity ratio of 1.43, a current ratio of 0.22, and a quick ratio of 0.22. The fifty day moving average price for APLD is $8.4195 and a two-hundred day moving average price translates $5.656425 for the stock.
The latest earnings results from Applied Digital Corporation (NASDAQ: APLD) was released for 2024-08-31. The net profit margin was -74.97% and return on equity was -66.99% for APLD. The company reported revenue of $60.7 million for the quarter, compared to $36.32 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 67.12 percent.
