Applied Digital (NASDAQ:APLD) Trading 1.8% Higher – Here’s Why

Applied Digital Corporation (NASDAQ:APLD)’s share price rose 1.8% during mid-day trading on Wednesday . The company traded as high as $25.94 and last traded at $24.52. Approximately 28,794,398 shares were traded during trading, a decline of 17% from the average daily volume of 34,704,496 shares. The stock had previously closed at $24.08.

More Applied Digital News

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital announced a plan to spin out its cloud business and combine it with Ekso Bionics to form ChronoScale, a focused AI/GPU‑accelerated cloud platform intended to address capacity constraints in the AI market — a strategic move that can unlock value and create a pure‑play business for AI compute. Applied Digital to Spin Out Cloud Business
• Positive Sentiment: Coverage and market write‑ups highlight the ChronoScale launch as a growth catalyst for Applied Digital’s cloud unit and a rationale for re‑rating the stock; this narrative is driving buy‑side interest and intraday gains. Spin-Off Buzz
• Positive Sentiment: Analysts turned more bullish: Northland named APLD a “Top Pick” for 2026 and reaffirmed an outperform with a $40 price target, while Lake Street reaffirmed a buy with a $45 target — both imply substantial upside vs. current levels and support further investor interest. Northland Top Pick
• Neutral Sentiment: Market scanners noted “moderately bullish” trading activity (small upticks in volume/price); this reflects headline‑driven momentum more than new fundamentals. Moderately Bullish Activity
• Negative Sentiment: Some recent volatility and a prior intraday decline were noted and discussed in coverage — investors should watch deal terms, potential dilution, regulatory/timing risk and execution around the spin‑out, which could cause pullbacks. Why APLD Fell

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on APLD shares. Compass Point assumed coverage on shares of Applied Digital in a research note on Monday, September 15th. They issued a “buy” rating for the company. Craig Hallum lifted their price objective on Applied Digital to $39.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Applied Digital in a report on Wednesday, October 8th. HC Wainwright raised their price objective on Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 target price on shares of Applied Digital in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.00.

Applied Digital Stock Performance

The firm’s 50 day moving average price is $27.98 and its 200-day moving average price is $20.84. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of -21.70 and a beta of 6.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.65 and a quick ratio of 0.65.

Applied Digital (NASDAQ:APLD) last released its earnings results on Thursday, October 9th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The firm had revenue of $64.22 million during the quarter, compared to analysts’ expectations of $52.25 million. During the same period in the prior year, the company earned ($0.15) EPS. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. On average, analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In related news, Director Chuck Hastings sold 25,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $34.27, for a total transaction of $856,750.00. Following the transaction, the director directly owned 426,612 shares in the company, valued at $14,619,993.24. The trade was a 5.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mohammad Saidal Lavanw Mohmand sold 37,503 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $36.47, for a total value of $1,367,734.41. Following the completion of the sale, the chief financial officer owned 121,409 shares of the company’s stock, valued at $4,427,786.23. This represents a 23.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 328,035 shares of company stock valued at $11,376,479 over the last quarter. Company insiders own 9.50% of the company’s stock.

Institutional Investors Weigh In On Applied Digital

Several institutional investors and hedge funds have recently bought and sold shares of APLD. Invesco Ltd. lifted its holdings in shares of Applied Digital by 76.1% during the 1st quarter. Invesco Ltd. now owns 192,789 shares of the company’s stock worth $1,083,000 after acquiring an additional 83,333 shares during the period. Wellington Management Group LLP increased its stake in Applied Digital by 11.7% in the first quarter. Wellington Management Group LLP now owns 19,056 shares of the company’s stock valued at $107,000 after acquiring an additional 2,001 shares during the period. Corebridge Financial Inc. lifted its stake in Applied Digital by 2.0% during the first quarter. Corebridge Financial Inc. now owns 97,224 shares of the company’s stock worth $546,000 after purchasing an additional 1,899 shares during the period. AQR Capital Management LLC boosted its holdings in Applied Digital by 84.8% during the first quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock valued at $106,000 after purchasing an additional 8,692 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Applied Digital by 27.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,146,400 shares of the company’s stock valued at $12,063,000 after purchasing an additional 462,527 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.