Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Applied Digital Corporation shares valued at $1,840,000 were sold by Cummins Wes on Nov 27 ’24. At $9.20 per share, Cummins Wes sold 200,000 shares. The insider’s holdings dropped to 3,875,955 shares worth approximately $33.99 million following the completion of this transaction.
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Also, Nottenburg Richard N sold 50,000 shares, netting a total of over 460,000 in proceeds. Following the sale of shares at $9.20 each, the insider now holds 334,317 shares.
Before that, Nottenburg Richard N had sold 19,369 shares from its account. In a trade valued at $145,368, the Director traded Applied Digital Corporation shares for $7.51 each. Upon closing the transaction, the insider’s holdings decreased to 19,369 shares, worth approximately $3.37 million.
As published in their initiating research note from Cantor Fitzgerald on December 20, 2024, Applied Digital Corporation [APLD] has been an Overweight and the price target has been revised to $15. Analysts at ROTH MKM started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. As of December 22, 2022, H.C. Wainwright has initiated its “Buy” rating for APLD. Earlier on May 24, 2022, DA Davidson 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 -10.01%. Over the course of the year, Applied Digital Corporation shares have jumped approximately 29.38%. Shares of the company reached a 52-week high of $11.25 on 12/06/24 and a 52-week low of $2.36 on 04/18/24. A 50-day SMA is recorded $8.46, while a 200-day SMA reached $5.70. Nevertheless, trading volume fell to 10.16 million shares from 12.71 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 8.23, which, if violated, would cause prices to drop to 7.68. In the upper region, resistance lies at 9.05. The next price resistance is at 9.32. RSI (Relative Strength Index) is 49.27 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 70.66%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
