Investing in Applied Digital Corporation (APLD): What You Must Know


Applied Digital Corporation’s filing revealed that its CEO; Chairman Cummins Wes acquired Company’s shares for reported $76500.0 on Feb 15. In the deal valued at $3.06 per share,25,000 shares were bought. As a result of this transaction, Cummins Wes now holds 1,945,686 shares worth roughly $ 5.1 million.

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Then, Cummins Wes bought 25,000 shares, generating $76,500 in total proceeds. Upon buying the shares at $3.06, the CEO; Chairman now owns 1,920,686 shares.

Before that, Cummins Wes bought 25,000 shares. Applied Digital Corporation shares valued at $79,250 were divested by the CEO; Chairman at a price of $3.17 per share. As a result of the transaction, Cummins Wes now holds 1,895,686 shares, worth roughly $4.97 million.

H.C. Wainwright initiated its Applied Digital Corporation [APLD] rating to a Buy in a research note published on Friday, December 22, 2022; the price target was $4. PT values the company’s stock at a premium of 34.5 to its Friday closing price. A number of analysts have revised their coverage, including DA Davidson’s analysts, who began to cover the stock in late May with a ‘”a Buy”‘ rating. Craig Hallum began covering APLD with “Buy” recommendation on May 23, 2022. Northland Capital started covering the stock on May 09, 2022. It rated APLD as “an Outperform”.

Price Performance Review of APLD

On Friday, Applied Digital Corporation [NASDAQ:APLD] saw its stock fall -8.07% to $2.62. On the same session, the stock had its day’s lowest price of $2.58, but rose to a high of $2.84. Over the last five days, the stock has lost -12.67%. Applied Digital Corporation shares have risen nearly 42.39% since the year began. Nevertheless, the stocks have fallen -77.95% over the past one year. While a 52-week high of $27.12 was reached on 02/02/23, a 52-week low of $0.85 was recorded on 01/06/23. SMA at 50 days reached $2.44, while 200 days put it at $2.19. A total of 0.76 million shares were traded, compared to the trading of 0.38 million shares in the previous session.

Levels Of Support And Resistance For APLD Stock

The 24-hour chart illustrates a support level at 2.52, which if violated will result in even more drops to 2.42. On the upside, there is a resistance level at 2.78. A further resistance level may holdings at 2.94. The Relative Strength Index (RSI) on the 14-day chart is 42.94, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 95.88%. Stochastics %K at 11.26% indicates the stock is a buying.

Applied Digital Corporation [APLD] – Who Are The Largest Shareholders?

In filings from Oasis Management, it is revealed that the company now owns 4,402,909 shares, or roughly 4.66% of the outstanding APLD shares. In other words, the investor’s shares have risen by 62,678 from its previous 13-F filing of 4340231.0. Additionally, Hood River Capital Management LLC increased 11.41% of its stake after which the total value it holdings stand at $11,139,937, while Nokomis Capital LLC added 54.25% of its stake to hold $9.49 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 2,335,380 shares of Applied Digital Corporation, while The Vanguard Group, Inc. bought 2,104,650 shares. At present, B. Riley Asset Management LLC is holding 1,795,686 shares valued at $5.57 million. Deep Field Asset Management LLC owned 1,671,276 shares of the company at the time of its most recent 13F filing, worth $5.18 million.

According to FactSet, Applied Digital Corporation’s share price will average $5.89 in the next year, based on opinions of analysts polled by the firm. This is up nearly 110.53 percent from its previous closing price of $2.85. Analysts expect Applied Digital Corporation stock to reach the higher price of $10.00, while the lowest price estimate is $3.70. However, 7 analysts have rated APLD stock as a Buy in their predictions for 2023. The most recent change occurred on May 09, 2022 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $5.50 price target.


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