Streetbeat News

APLD

Applied Digital Corporation

https://www.applieddigital.com

Industry

Financial - Capital Markets

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the performance computing industry. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation was incorporated in 2001 and is based in Dallas, Texas.

Open

7.01

Mkt cap

1.6B

Volume

22M

High

7.57

P/E Ratio

-5.88

52-wk high

9.48

Low

6.90

Div yield

N/A

52-wk low

2.36

James Hardie Industries (NYSE:JHX) shares fell 14.3% after reporting worse-than-expected quarterly earnings and sales. JP Morgan downgraded the stock from Overweight to Neutral. Other notable movers include MGO Global (NASDAQ:MGOL) up 194% after Q1 results, and Greenwave Technology Solutions (NASDAQ:GWAV) down 60.5% after reporting a year-over-year decrease in Q1 results.

Portfolio Pulse from Avi Kapoor

May 21, 2024 | 5:36 pm

Li Auto Inc. (NASDAQ:LI) reported weak Q1 results, missing both EPS and sales estimates, leading to a 4.4% drop in pre-market trading. Other stocks like Super Hi International Holding (NASDAQ:HDL), DouYu International Holdings Limited (NASDAQ:DOYU), ATRenew Inc. (NASDAQ:RERE), Newegg Commerce Inc (NASDAQ:NEGG), YETI Holdings, Inc. (NYSE:YETI), and Applied Digital Corporation (NASDAQ:APLD) also saw declines in pre-market trading.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 10:43 am

Needham analyst John Todaro has reiterated a Buy rating on Applied Digital (NASDAQ:APLD) and maintained a price target of $11.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:36 am

Applied Digital Corporation announced the creation of a new subsidiary, Applied Digital Cloud Corporation, which will encompass the company's Cloud services business, previously known as SAI Computing LLC. Richard Nottenburg, a board member, will chair the new subsidiary.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 12:06 pm

Applied Digital (NYSE:APLD) has seen an 8.68% increase in short percent of float, now at 23.54% of all shares available for trading. This indicates a bearish market sentiment towards APLD, with a current short volume of 22.96 million shares and a 4.36-day average to cover short positions. Compared to its peers, APLD has a significantly higher short interest, suggesting more bearish sentiment than its counterparts.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 7:30 pm

Oasis Management Company Ltd. has reported a 5.78% stake in Applied Digital (APLD) as of May 1, 2024, according to a 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:30 pm

Applied Digital (NASDAQ:APLD) received 7 analyst ratings in the past three months, showing a mix of bullish sentiment despite a decrease in the average 12-month price target from $13.17 to $9.86, a 25.13% drop. Analysts from firms like B. Riley Securities, Lake Street, Roth MKM, and Needham have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Applied Digital's financial indicators such as market capitalization, revenue growth, net margin, ROE, ROA, and debt management were also discussed, highlighting its position and performance in the high performance computing industry.

Portfolio Pulse from Benzinga Insights

May 06, 2024 | 6:01 pm

B. Riley Securities analyst Lucas Pipes maintains a Buy rating on Applied Digital (NASDAQ:APLD) but lowers the price target from $8 to $6.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:31 pm

Clever Leaves Holdings Inc. announced its decision to voluntarily delist from Nasdaq, causing a 60% drop in its shares. Other stocks moved significantly in Monday's session, with Deciphera Pharmaceuticals surging 73% after an acquisition announcement, and various companies like Collective Audience and ImmunityBio also seeing substantial gains. Losers included Annovis Bio, down 57% after disappointing trial results, and Addex Therapeutics, falling 48.8% due to a failed epilepsy study.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 5:04 pm

Ellendale Facility is operating at approximately 80 MW and is accelerating the restoration of capacity at its Ellendale Data Center Hosting Facility. The company expects to continue ramping up capacity ahead of schedule, as detailed in its earnings release filed on April 11, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:20 pm

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