Applied Digital Co. (NASDAQ:APLD) Short Interest Update

by · The Cerbat Gem

Applied Digital Co. (NASDAQ:APLD – Get Free Report) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 24,090,000 shares, an increase of 23.5% from the August 31st total of 19,500,000 shares. Approximately 15.7% of the shares of the stock are short sold. Based on an average trading volume of 10,300,000 shares, the short-interest ratio is presently 2.3 days.

Applied Digital Price Performance

APLD stock opened at $7.74 on Monday. Applied Digital has a 1 year low of $2.36 and a 1 year high of $8.78. The firm has a market cap of $1.06 billion, a P/E ratio of -10.37 and a beta of 4.51. The stock’s 50 day moving average price is $4.92 and its 200 day moving average price is $4.56. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08.

Applied Digital (NASDAQ:APLD – Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). Applied Digital had a negative return on equity of 111.80% and a negative net margin of 88.95%. The business had revenue of $43.70 million for the quarter, compared to analysts’ expectations of $42.70 million. During the same period in the prior year, the company earned ($0.07) EPS. On average, sell-side analysts expect that Applied Digital will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the sale, the director now owns 218,506 shares in the company, valued at approximately $1,201,783. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 20.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Alight Capital Management LP purchased a new position in shares of Applied Digital during the 2nd quarter worth $3,570,000. Woodmont Investment Counsel LLC raised its position in shares of Applied Digital by 4.2% in the 1st quarter. Woodmont Investment Counsel LLC now owns 250,319 shares of the company’s stock worth $1,071,000 after buying an additional 10,149 shares during the period. Vanguard Group Inc. raised its position in shares of Applied Digital by 70.2% in the 1st quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock worth $26,434,000 after buying an additional 2,547,485 shares during the period. Register Financial Advisors LLC raised its position in shares of Applied Digital by 74.0% in the 1st quarter. Register Financial Advisors LLC now owns 323,400 shares of the company’s stock worth $1,384,000 after buying an additional 137,500 shares during the period. Finally, Swiss National Bank raised its position in shares of Applied Digital by 23.2% in the 1st quarter. Swiss National Bank now owns 180,600 shares of the company’s stock worth $773,000 after buying an additional 34,000 shares during the period. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Wall Street Analysts Forecast Growth

APLD has been the topic of a number of research reports. B. Riley upped their price target on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, September 9th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research note on Thursday, September 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of Applied Digital in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital presently has an average rating of “Buy” and a consensus price target of $8.40.

View Our Latest Report on Applied Digital

Applied Digital Company Profile

(Get Free Report)

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

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