Applied Digital Corporation (NASDAQ:APLD) price on current trading day, fall -6.79% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $8.58.
A look at the stock’s price movement, the level at last check in today’s session was $9.20, moving within a range at $8.43 and $9.1. The beta value (5-Year monthly) was 4.517. Turning to its 52-week performance, $11.25 and $2.36 were the 52-week high and 52-week low respectively. Overall, APLD moved -11.96% over the past month.
Applied Digital Corporation’s market cap currently stands at around $1.81 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 61.61M for the company’s revenue for the quarter, with a low and high estimate of 55.5M and 67M respectively. The average forecast suggests up to a 45.98% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 249.47M, representing a 50.67% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that APLD is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 5 recommend APLD as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
APLD’s current price about -6.67% and 0.82% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.06, while 7-day volatility ratio is 10.16% and 10.47% in the 30-day chart. Further, Applied Digital Corporation (APLD) has a beta value of 4.59, and an average true range (ATR) of 0.91. Analysts have given the company’s stock an average 52-week price target of $9, forecast between a low of $1.67 and high of $10. Looking at the price targets, the low is 80.54% off recent price level in today’s trading while to achieve the yearly target high, it has to move -16.55%. Nonetheless, investors will most likely welcome a -4.9% jump to $9 which is the analysts’ median price.
If we refocus on Applied Digital Corporation (NASDAQ:APLD), historical trading data shows that trading volumes averaged 17.09 over the past 10 days and 15.54 million over the past 3 months. The company’s latest data on shares outstanding shows there are 211.25 million shares.
The 24.42% of Applied Digital Corporation’s shares are in the hands of company insiders while institutional holders own 61.49% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 42.82 million on 2024-11-29, giving us a short ratio of 2.5. The data shows that as of 2024-11-29 short interest in Applied Digital Corporation (APLD) stood at 2234.0 of shares outstanding, with shares short rising to 27.02 million registered in 2024-10-31. Current price change has pushed the stock 27.23% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the APLD stock continues to rise going into the next quarter.
