Applied Digital (OTCMKTS:APLD – Get Rating) had its price target boosted by investment analysts at B. Riley from $7.00 to $17.00 in a report released on Friday, The Fly reports. B. Riley’s price target suggests a potential upside of 98.37% from the stock’s previous close.
Separately, Needham & Company LLC upped their target price on shares of Applied Digital from $3.70 to $5.50 in a research note on Tuesday, May 16th.
Applied Digital Stock Performance
Shares of Applied Digital stock opened at $8.57 on Friday. The stock has a market cap of $821.94 million, a price-to-earnings ratio of -18.63 and a beta of 4.85. The firm’s 50-day moving average is $3.13 and its 200 day moving average is $2.61. Applied Digital has a 1 year low of $0.85 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.22 and a quick ratio of 0.22.
Insiders Place Their Bets
Institutional Trading of Applied Digital
Several institutional investors and hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC raised its holdings in Applied Digital by 30.0% in the first quarter. Hood River Capital Management LLC now owns 4,671,783 shares of the company’s stock worth $10,465,000 after purchasing an additional 1,078,255 shares in the last quarter. BlackRock Inc. raised its holdings in Applied Digital by 13.7% in the first quarter. BlackRock Inc. now owns 3,262,270 shares of the company’s stock worth $7,307,000 after purchasing an additional 392,767 shares in the last quarter. B. Riley Asset Management LLC raised its holdings in Applied Digital by 36.8% in the first quarter. B. Riley Asset Management LLC now owns 1,950,686 shares of the company’s stock worth $4,370,000 after purchasing an additional 525,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Applied Digital by 2.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,373,136 shares of the company’s stock worth $3,076,000 after purchasing an additional 37,338 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Applied Digital by 40.4% in the fourth quarter. Van ECK Associates Corp now owns 980,371 shares of the company’s stock worth $1,804,000 after purchasing an additional 282,118 shares in the last quarter. 48.42% of the stock is currently owned by institutional investors.
About Applied Digital
Applied Digital Corp. operates as a technology company, which engages in the development and operation of data centers which provide computing power. The company was founded in May 2001 and is headquartered in Dallas, TX.
- Get a free copy of the StockNews.com research report on Applied Digital (APLD)
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