Applied Digital (APLD) Set to Announce Earnings on Wednesday

Applied Digital (NASDAQ:APLD) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, October 9th. Analysts expect the company to announce earnings of ($0.28) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.29). Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. The company had revenue of $43.70 million for the quarter, compared to the consensus estimate of $42.70 million. During the same period last year, the firm posted ($0.07) earnings per share. On average, analysts expect Applied Digital to post $-1 EPS for the current fiscal year and $-2 EPS for the next fiscal year.

Applied Digital Stock Down 2.1 %

Applied Digital stock opened at $8.08 on Wednesday. Applied Digital has a 12-month low of $2.36 and a 12-month high of $8.78. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $1.11 billion, a PE ratio of -10.23 and a beta of 4.51. The firm’s fifty day moving average is $4.98 and its 200 day moving average is $4.59.

Insider Activity

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the transaction, the director now owns 218,506 shares in the company, valued at approximately $1,201,783. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. B. Riley raised their price target on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a report on Thursday, September 5th. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Applied Digital in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, September 9th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $8.40.

Applied Digital Company Profile

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.