APLD Stock Summary and Trading Ideas (Applied Digital | NASDAQ:APLD)

Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high performance computing industry.

Applied Digital trades on the NASDAQ stock market under the symbol APLD.

As of April 26, 2024, APLD stock price declined to $2.94 with 3,247,702 million shares trading.

APLD has a beta of 2.88, meaning it tends to be more sensitive to market movements. APLD has a correlation of 0.06 to the broad based SPY ETF.

APLD has a market cap of $360.85 million. This is considered a Small Cap stock.

Last quarter Applied Digital reported $43 million in Revenue and -$.24 earnings per share. This fell short of revenue expectation by $-9 million and missed earnings estimates by -$.14.

The top ETF exchange traded funds that APLD belongs to (by Net Assets): VTI, VGT, IWM, VXF, DAPP.

APLD has underperformed the market in the last year with a price return of -3.9% while the SPY ETF gained +26.8%. APLD has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -42.9% and -4.2%, respectively, while the SPY returned +4.5% and -1.9%, respectively.

APLD support price is $2.84 and resistance is $3.16 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that APLD stock will trade within this expected range on the day.