Roth Mkm Increases Applied Digital (NASDAQ:APLD) Price Target to $11.00

Applied Digital (NASDAQ:APLD) had its target price hoisted by Roth Mkm from $8.00 to $11.00 in a report issued on Monday morning, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

A number of other brokerages have also recently commented on APLD. Needham & Company LLC reaffirmed a buy rating and set a $11.00 price objective on shares of Applied Digital in a research note on Friday, June 14th. HC Wainwright reaffirmed a buy rating and set a $5.00 price objective on shares of Applied Digital in a research note on Wednesday, June 12th. Lake Street Capital decreased their price objective on Applied Digital from $19.00 to $7.00 and set a buy rating for the company in a research note on Friday, April 12th. Finally, B. Riley decreased their price objective on Applied Digital from $8.00 to $6.00 and set a buy rating for the company in a research note on Monday, May 6th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Digital currently has an average rating of Buy and a consensus target price of $8.00.

Applied Digital Stock Up 3.5 %

NASDAQ APLD opened at $6.24 on Monday. The stock has a fifty day moving average of $4.12 and a 200-day moving average of $4.73. The stock has a market capitalization of $856.19 million, a P/E ratio of -7.90 and a beta of 4.38. Applied Digital has a 52 week low of $2.36 and a 52 week high of $11.07. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.30.

Applied Digital (NASDAQ:APLD) last released its earnings results on Thursday, April 11th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.40). The firm had revenue of $43.35 million during the quarter, compared to analyst estimates of $50.36 million. Applied Digital had a negative net margin of 61.84% and a negative return on equity of 75.46%. On average, equities research analysts forecast that Applied Digital will post -1.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APLD. California State Teachers Retirement System lifted its holdings in shares of Applied Digital by 14.1% in the first quarter. California State Teachers Retirement System now owns 91,086 shares of the company’s stock valued at $390,000 after purchasing an additional 11,288 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Digital by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock valued at $103,000 after purchasing an additional 3,182 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Applied Digital by 2.8% in the first quarter. Hood River Capital Management LLC now owns 8,824,532 shares of the company’s stock valued at $37,769,000 after purchasing an additional 240,177 shares in the last quarter. JT Stratford LLC lifted its holdings in shares of Applied Digital by 157.5% in the first quarter. JT Stratford LLC now owns 308,626 shares of the company’s stock valued at $1,321,000 after purchasing an additional 188,779 shares in the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Applied Digital by 26.7% in the first quarter. Vident Advisory LLC now owns 750,005 shares of the company’s stock valued at $3,210,000 after purchasing an additional 157,819 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.

About Applied Digital

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.