Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Applied Digital Corporation shares valued at $142,200 were sold by MOORE VIRGINIA on Feb 20 ’24. At $4.74 per share, MOORE VIRGINIA sold 30,000 shares. The insider’s holdings dropped to 148,630 shares worth approximately $0.46 million following the completion of this transaction.
Also, MOORE VIRGINIA sold 15,000 shares, netting a total of over 73,050 in proceeds. Following the sale of shares at $4.87 each, the insider now holds 178,630 shares.
Before that, MOORE VIRGINIA had sold 45,000 shares from its account. In a trade valued at $212,400, the Director traded Applied Digital Corporation shares for $4.72 each. Upon closing the transaction, the insider’s holdings decreased to 45,000 shares, worth approximately $0.59 million.
As published in their initiating research note from ROTH MKM on October 03, 2023, Applied Digital Corporation [APLD] has been a Buy and the price target has been revised to $14. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in late December. As of May 24, 2022, DA Davidson has initiated its “Buy” rating for APLD. Earlier on May 23, 2022, Craig Hallum initiated its rating. Their recommendation was “a Buy” for APLD stock.
Analyzing APLD Stock Performance
During the last five days, there has been a drop of approximately -6.12%. Over the course of the year, Applied Digital Corporation shares have dropped approximately -54.45%. Shares of the company reached a 52-week high of $8.65 on 01/11/24 and a 52-week low of $2.71 on 04/10/24. A 50-day SMA is recorded $4.26, while a 200-day SMA reached $5.74. Nevertheless, trading volume fell to 7.57 million shares from 6.49 million shares the previous day.
Support And Resistance Levels for Applied Digital Corporation (APLD)
According to the 24-hour chart, there is a support level at 2.91, which, if violated, would cause prices to drop to 2.75. In the upper region, resistance lies at 3.15. The next price resistance is at 3.23. RSI (Relative Strength Index) is 34.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.68, which suggests the price will decrease in the coming days. Percent R is at 80.76%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Applied Digital Corporation subject to short interest?
Stocks of Applied Digital Corporation saw a sharp rise in short interest on Mar 15, 2024 jumping by 1.67 million shares to 19.22 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 17.55 million shares. A jump of 8.69% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.
