Applied Digital Corporation [APLD] Revenue clocked in at $114.65 million, down -43.32% YTD: What’s Next?

Applied Digital Corporation [NASDAQ: APLD] loss -7.06% on the last trading session, reaching $3.82 price per share at the time. The company report on April 1, 2024 at 8:05 AM that Applied Digital Issues $50 Million Unsecured Convertible Debenture to Advance HPC Data Center Project in Ellendale, North Dakota.

“We intend to use the net proceeds from the private financing, supplemented by the proceeds from our announced sale of the Garden City facility, to finance substantial advancements in our construction phase of the HPC data center in Ellendale, North Dakota. Concurrently, we continue negotiating our project-level financing to ensure timely project completion and fulfillment of our contractual obligations,” said Applied Digital CFO David Rench.

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If compared to the average trading volume of 3.37M shares, APLD reached a trading volume of 4183020 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $13.43 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 0.35, with the Price to Sales ratio for APLD stock in the period of the last 12 months amounting to 4.07. The Price to Book ratio for the last quarter was 2.89, with the Price to Cash per share for the same quarter was set at 0.28.

Trading performance analysis for APLD stock

Applied Digital Corporation [APLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.38. With this latest performance, APLD shares dropped by -9.26% in over the last four-week period, additionally sinking by -38.78% over the last 6 months – not to mention a rise of 74.43% 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 38.70, with the RSI for the last a single of trading hit 34.04, and the three-weeks RSI is set at 40.88 for Applied Digital Corporation [APLD]. The present Moving Average for the last 50 days of trading for this stock 4.54, while it was recorded at 4.18 for the last single week of trading, and 5.96 for the last 200 days.

Applied Digital Corporation [APLD]: A deeper dive into fundamental analysis

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]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Applied Digital Corporation posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at -0.05/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -60.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for APLD.

An analysis of Institutional ownership at Applied Digital Corporation [APLD]

The top three institutional holders of APLD stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in APLD stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in APLD stock with ownership which is approximately 5.8386%.