Applied Digital Corporation [NASDAQ: APLD] stock went on an upward path that rose over 8.64% on Wednesday, amounting to a one-week price increase of more than 0.87%.
Over the last 12 months, APLD stock rose by 129.06%. The one-year Applied Digital Corporation stock forecast points to a potential upside of 66.45. The average equity rating for APLD stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $547.44 million, with 95.93 million shares outstanding and 83.30 million shares in the current float. Compared to the average trading volume of 3.48M shares, APLD stock reached a trading volume of 3271520 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Applied Digital Corporation [APLD]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for APLD shares is $13.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on APLD stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
ROTH MKM have made an estimate for Applied Digital Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 03, 2023. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on December 22, 2022, representing the official price target for Applied Digital Corporation stock. Previously, the target price had yet another raise to $6, while DA Davidson analysts kept a Buy rating on APLD stock.
The Average True Range (ATR) for Applied Digital Corporation is set at 0.39, with the Price to Sales ratio for APLD stock in the period of the last 12 months amounting to 4.77. The Price to Book ratio for the last quarter was 3.52, with the Price to Cash per share for the same quarter was set at 0.29.
APLD Stock Performance Analysis:
Applied Digital Corporation [APLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.87. With this latest performance, APLD shares dropped by -1.69% in over the last four-week period, additionally sinking by -6.81% over the last 6 months – not to mention a rise of 129.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APLD stock in for the last two-week period is set at 52.45, with the RSI for the last a single of trading hit 57.04, and the three-weeks RSI is set at 49.77 for Applied Digital Corporation [APLD]. The present Moving Average for the last 50 days of trading for this stock 4.91, while it was recorded at 4.38 for the last single week of trading, and 6.14 for the last 200 days.
Insight into Applied Digital Corporation Fundamentals:
Applied Digital Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.18 and a Current Ratio set at 0.18.
Applied Digital Corporation [APLD] Institutonal Ownership Details
The top three institutional holders of APLD stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in APLD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in APLD stock with ownership which is approximately 5.8325%.
