Applied Digital Corporation (NASDAQ:APLD) shares, rose in value, with the stock price down by -12.83% to the previous day’s close as strong demand from buyers drove the stock to $3.33.
Actively observing the price movement in the last trading, the stock closed the session at $3.82. The value of beta (5-year monthly) was 4.00. Referring to stock’s 52-week performance, its high was $11.62, and the low was $2.06. On the whole, APLD has fluctuated by -18.98% over the past month.
With the market capitalization of Applied Digital Corporation currently standing at about $406.43 million, investors are eagerly awaiting this quarter’s results, scheduled for Apr 10, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.07, which is expected to increase to $0.16 for fiscal year -$0.38 and then to about $0.29 by fiscal year 2025. Data indicates that the EPS growth is expected to be 22.40% in 2025, while the next year’s EPS growth is forecast to be 176.30%.
Analysts have estimated the company’s revenue for the quarter at $51.92 million, with a low estimate of $41.58 million and a high estimate of $62.9 million. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $211.61 million, representing an increase of 282.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that APLD’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of APLD currently trading nearly -22.59% and -26.70% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.35, while the 7-day volatility ratio is showing 8.27% which for the 30-day chart, stands at 8.14%. Furthermore, Applied Digital Corporation (APLD)’s beta value is 4.07, and its average true range (ATR) is 0.36.
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 -12.83% in last session, and over the past year, it grew by 48.66%%.
Data on historical trading for Applied Digital Corporation (NASDAQ:APLD) indicates that the trading volumes over the past 10 days have averaged 2.85 million and over the past 3 months, they’ve averaged 3.40 million. According to company’s latest data on outstanding shares, there are 95.93 million shares outstanding.
Nearly 29.24% of Applied Digital Corporation’s shares belong to company insiders and institutional investors own 54.09% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 19.22 million shares as on Mar 15, 2024, resulting in a short ratio of 6. According to the data, the short interest in Applied Digital Corporation (APLD) stood at 15.74% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 17.55 million. The stock has fallen by -50.59% 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.
