Update from Applied Digital Corporation (APLD): A steady trajectory

The closing price of Applied Digital Corporation (NASDAQ: APLD) was $2.34 for the day, down -2.50% from the previous closing price of $2.40. In other words, the price has decreased by -$0.0600 from its previous closing price. On the day, 762831 shares were traded. APLD stock price reached its highest trading level at $2.4300 during the session, while it also had its lowest trading level at $2.2750.

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Our analysis of APLD’s different ratios will help us gain a deeper understanding of the company. For the most recent quarter (mrq), Quick Ratio is recorded 0.30 and its Current Ratio is at 0.30. In the meantime, Its Debt-to-Equity ratio is 0.32 whereas as Long-Term Debt/Eq ratio is at 0.26.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, H.C. Wainwright on December 22, 2022, initiated with a Buy rating and assigned the stock a target price of $4.

On May 24, 2022, DA Davidson started tracking the stock assigning a Buy rating and target price of $6.

On May 23, 2022, Craig Hallum started tracking the stock assigning a Buy rating and target price of $10.Craig Hallum initiated its Buy rating on May 23, 2022, with a $10 target price.

Insider Transactions:

Also, insider trades can serve as a great indicator of what management thinks about the future direction of a stock’s price. A recent insider transaction in this stock occurred on Jan 20 when Cummins Wes bought 20,000 shares for $2.41 per share. The transaction valued at 48,200 led to the insider holds 1,695,686 shares of the business.

Cummins Wes bought 25,000 shares of APLD for $60,000 on Jan 19. The CEO; Chairman now owns 1,675,686 shares after completing the transaction at $2.40 per share. On Jan 18, another insider, Cummins Wes, who serves as the CEO; Chairman of the company, bought 50,000 shares for $2.35 each. As a result, the insider paid 117,500 and bolstered with 1,650,686 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 8.02 while its Price-to-Book (P/B) ratio in mrq is 3.44.

Stock Price History:

Over the past 52 weeks, APLD has reached a high of $27.12, while it has fallen to a 52-week low of $0.85. The 50-Day Moving Average of the stock is 1.9858, while the 200-Day Moving Average is calculated to be 2.2373.

Shares Statistics:

APLD traded an average of 734.49K shares per day over the past three months and 807.81k shares per day over the past ten days. A total of 93.42M shares are outstanding, with a floating share count of 58.51M. Insiders hold about 8.00% of the company’s shares, while institutions hold 25.20% stake in the company. Shares short for APLD as of Oct 13, 2022 were 2.08M with a Short Ratio of 3.34M, compared to 1.12M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 2.21% and a Short% of Float of 3.10%.

Earnings Estimates

The firm’s stock currently is rated by 5 analysts. The consensus estimate for the next quarter is -$0.02, with high estimates of $0.01 and low estimates of -$0.05.

Analysts are recommending an EPS of between -$0.02 and -$0.12 for the fiscal current year, implying an average EPS of -$0.08. EPS for the following year is $0.68, with 4 analysts recommending between $1.13 and $0.41.

Revenue Estimates

A total of 6 analysts have provided revenue estimates for APLD’s current fiscal year. The highest revenue estimate was $136.21M, while the lowest revenue estimate was $77.8M, resulting in an average revenue estimate of $105.3M. In the same quarter a year ago, actual revenue was $8.55M, up 1,131.70% from the average estimate. Based on 5 analysts’ estimates, the company’s revenue will be $399.6M in the next fiscal year. The high estimate is $503.63M and the low estimate is $273.6M. The average revenue growth estimate for next year is up 279.50% from the average revenue estimate for this year.