Applied Digital Corporation (NASDAQ:APLD) shares, rose in value, with the stock price up by 0.85% to the previous day’s close as strong demand from buyers drove the stock to $9.72.
Actively observing the price movement in the recent trading, the stock is buoying the session at $9.64, falling within a range of $9.25 and $9.835. The value of beta (5-year monthly) is 4.517. Referring to stock’s 52-week performance, its high was $11.25, and the low was $2.36. On the whole, APLD has fluctuated by 20.85% over the past month.
With the market capitalization of Applied Digital Corporation currently standing at about $2.17 billion, investors are eagerly awaiting this quarter’s results, scheduled for in February.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 251.7M, with a low estimate of 61M and a high estimate of 65.1M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 62.78M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that APLD’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of APLD currently trading nearly 11.54% and 9.89% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.39, while the 7-day volatility ratio is showing 10.73% which for the 30-day chart, stands at 10.64%. Furthermore, Applied Digital Corporation (APLD)’s beta value is 4.65, and its average true range (ATR) is 0.94.
A comparison of Applied Digital Corporation (APLD) with its peers suggests the former has fared considerably weaker in the market. APLD showed an intraday change of 0.85% in today’s session so far, and over the past year, it grew by 99.63%%.
Data on historical trading for Applied Digital Corporation (NASDAQ:APLD) indicates that the trading volumes over the past 10 days have averaged 26.35 and over the past 3 months, they’ve averaged 18.10 million. According to company’s latest data on outstanding shares, there are 216.56 million shares outstanding.
Nearly 24.77% of Applied Digital Corporation’s shares belong to company insiders and institutional investors own 61.91% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 49.1 million shares as on 2024-12-31, resulting in a short ratio of 2.87. According to the data, the short interest in Applied Digital Corporation (APLD) stood at 2562.00 of shares outstanding as of 2024-12-31; the number of short shares registered in 2024-11-29 reached 42.82 million. The stock has risen by 27.25% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the APLD stock heading into the next quarter.
