Is Applied Digital Corporation (NASDAQ: APLD) Back In The Buying Zone?

Currently, there are 95.93M common shares owned by the public and among those 86.36M shares have been available to trade.

The company’s stock has a 5-day price change of -13.38% and -43.32% over the past three months. APLD shares are trading -43.32% year to date (YTD), with the 12-month market performance up to 74.43% higher. It has a 12-month low price of $2.06 and touched a high of $11.62 over the same period. APLD has an average intraday trading volume of 3.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.49%, -16.29%, and -36.12% respectively.

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Institutional ownership of Applied Digital Corporation (NASDAQ: APLD) shares accounts for 54.08% of the company’s 95.93M shares outstanding.

It has a market capitalization of $466.23M and a beta (3y monthly) value of 4.06. The earnings-per-share (ttm) stands at -$0.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.08% over the week and 7.83% over the month.

Analysts forecast that Applied Digital Corporation (APLD) will achieve an EPS of -$0.07 for the current quarter, -$0.02 for the next quarter and $0.29 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was -$0.08 a year ago. Earnings per share for the fiscal year are expected to increase by 56.80%, and 392.91% over the next financial year.

Looking at the support for the APLD, a number of firms have released research notes about the stock. ROTH MKM stated their Buy rating for the stock in a research note on October 03, 2023, with the firm’s price target at $14. H.C. Wainwright coverage for the Applied Digital Corporation (APLD) stock in a research note released on December 22, 2022 offered a Buy rating with a price target of $4. DA Davidson was of a view on May 24, 2022 that the stock is Buy, while Craig Hallum gave the stock Buy rating on May 23, 2022, issuing a price target of $10. Northland Capital on their part issued Outperform rating on May 09, 2022.

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