Applied Digital (OTCMKTS:APLD) Stock Price Down 8% – Here’s Why

Shares of Applied Digital Co. (OTCMKTS:APLD) traded down 8% on Friday . The stock traded as low as $29.04 and last traded at $29.0080. 11,677,850 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 35,134,344 shares. The stock had previously closed at $31.53.

Applied Digital Price Performance

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.10. The stock has a market cap of $8.12 billion, a PE ratio of -59.26 and a beta of 7.25. The company’s 50 day moving average is $32.02 and its 200-day moving average is $27.02.

Applied Digital Company Profile

Applied Digital (OTCMKTS:APLD) is a developer and operator of digital infrastructure specializing in high-intensity computing applications. The company designs, builds and manages large-scale data center campuses and modular computing facilities that leverage advanced cooling technologies to optimize performance and energy efficiency. Its core offerings include turnkey deployment of server racks, immersion cooling systems and proprietary control software aimed at serving blockchain networks, artificial intelligence workloads and other compute-intensive clients.

In addition to its data center services, Applied Digital maintains in-house blockchain validation operations, most prominently focused on bitcoin mining.