Applied Digital (APLD) Set to Announce Earnings on Wednesday

Applied Digital (NASDAQ:APLD) will post its quarterly earnings results before the market opens on Wednesday, April 10th. Analysts expect Applied Digital to post earnings of ($0.07) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Tuesday, January 16th. The company reported ($0.10) EPS for the quarter. Applied Digital had a negative return on equity of 31.26% and a negative net margin of 28.94%. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $54.78 million. On average, analysts expect Applied Digital to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Applied Digital Stock Up 4.9 %

NASDAQ APLD opened at $3.13 on Tuesday. The stock’s 50 day moving average is $4.38 and its 200 day moving average is $5.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.45. Applied Digital has a 12 month low of $2.35 and a 12 month high of $11.62. The stock has a market cap of $381.38 million, a PE ratio of -8.93 and a beta of 4.12.

Insider Buying and Selling

In related news, Director Virginia Moore sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total value of $142,200.00. Following the completion of the sale, the director now directly owns 148,630 shares of the company’s stock, valued at $704,506.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.70% of the stock is owned by insiders.

Institutional Trading of Applied Digital

Several hedge funds have recently modified their holdings of APLD. Vanguard Group Inc. increased its holdings in shares of Applied Digital by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 3,628,588 shares of the company’s stock valued at $24,457,000 after acquiring an additional 293,046 shares in the last quarter. Nokomis Capital L.L.C. increased its holdings in Applied Digital by 129.2% in the 4th quarter. Nokomis Capital L.L.C. now owns 2,940,955 shares of the company’s stock worth $19,822,000 after buying an additional 1,658,003 shares during the period. Northern Trust Corp increased its holdings in Applied Digital by 17.4% in the 4th quarter. Northern Trust Corp now owns 727,750 shares of the company’s stock worth $4,905,000 after buying an additional 107,984 shares during the period. Vident Advisory LLC increased its holdings in Applied Digital by 159.5% in the 4th quarter. Vident Advisory LLC now owns 592,186 shares of the company’s stock worth $3,991,000 after buying an additional 363,966 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Applied Digital by 10.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 534,700 shares of the company’s stock worth $3,604,000 after buying an additional 50,042 shares during the period. 65.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APLD shares. B. Riley reduced their price target on shares of Applied Digital from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday. Needham & Company LLC reduced their price target on shares of Applied Digital from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 18th.

Applied Digital Company Profile

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.