Applied Digital Corporation (NASDAQ:APLD) price closed higher on current market day and jumping 6.48% above its previous close.
A look at the daily price movement shows that the last close reads $8.18, with intraday deals fluctuated between $7.68 and $8.87. The company’s 5Y monthly beta was ticking 4.425. Taking into account the 52-week price action we note that the stock hit a 52-week high of $8.78 and 52-week low of $2.36. The stock added 44.68% on its value in the past month.
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Applied Digital Corporation, which has a market valuation of $1.87 billion, is expected to release its quarterly earnings report in November.
On average, analysts have forecast the company’s revenue for the quarter will hit 62.82M, with the likely lows of 53.5M and highs of 69M. Staying with the analyst view, there is a consensus estimate of 252.75M for the company’s annual revenue in current year. Per this projection, the revenue is forecast to grow 52.60% above that which the company brought in the current year earning report.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give APLD a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.
Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 5 analysts have assigned APLD a recommendation rating as follows: 0 rate it as a Hold; 5 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Applied Digital Corporation (APLD) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.
The overview shows that APLD’s price is at present 12.05% off the SMA20 and 44.64% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 64.68, with weekly volatility standing at 10.94%. The indicator jumps to 11.58% when calculated based on the past 30 days. Applied Digital Corporation (NASDAQ:APLD)’s beta value is holding at 4.46, while the average true range (ATR) indicator is currently reading 0.82. Considering analysts have assigned the stock a price target range of $7-$11 as the low and high respectively, we find the trailing 12-month average consensus price target to be $10. Based on this estimate, we see that current price is roughly 19.63% off the estimated low and -26.29% off the forecast high. Investors will no doubt be excited to see the share price fall to $10, which is the median consensus price, and at that level APLD would be -14.81% from current price.
An analysis of the Applied Digital Corporation (NASDAQ:APLD) stock in terms of its daily trading volume indicates that the 3-month average is 11.95 million. However, this figure increases on the past 10-day timeline to an average of 13.54 million.
Current records show that the company has 214.51M in outstanding shares. The insiders’ percentage holdings are 20.79% of outstanding shares while the percentage share held by institutions stands at 39.39%. The stats also highlight that short interest as of 2024-09-30, stood at 26.36 million shares, which puts the short ratio at the time at 1.17. From this we can glean that short interest is 1393.00 of company’s current outstanding shares. Notably, we see that shares short in September rose slightly given the previous month’s figure stood at 19.5 million. But the 29.23% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.
