Applied Digital (NASDAQ:APLD) Trading Down 8% – What’s Next?

Posted by Brenda Bartman on May 20th, 2026

Shares of Applied Digital Corporation (NASDAQ:APLD – Get Free Report) fell 8% during trading on Monday . The stock traded as low as $37.60 and last traded at $39.14. 19,518,358 shares were traded during mid-day trading, a decline of 26% from the average session volume of 26,285,914 shares. The stock had previously closed at $42.56.

Analyst Upgrades and Downgrades

Several research firms have recently commented on APLD. Roth Mkm reiterated a “buy” rating and issued a $65.00 price target on shares of Applied Digital in a research report on Thursday, April 23rd. Citizens Jmp reiterated a “market outperform” rating and issued a $40.00 price target on shares of Applied Digital in a research report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research report on Friday, April 24th. Needham & Company LLC raised their target price on shares of Applied Digital to $51.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Texas Capital upgraded shares of Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.67.

Read Our Latest Stock Analysis on Applied Digital

Applied Digital Stock Performance

The stock’s 50-day moving average is $31.38 and its 200-day moving average is $30.64. The stock has a market cap of $11.29 billion, a price-to-earnings ratio of -53.40 and a beta of 5.69. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38.

Applied Digital (NASDAQ:APLD – Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The firm’s revenue was up 139.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. Analysts anticipate that Applied Digital Corporation will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the transaction, the director owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. This represents a 5.66% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,000 shares of company stock worth $1,182,175. 9.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Applied Digital

Hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Applied Digital in the 3rd quarter valued at $994,000. Federated Hermes Inc. purchased a new stake in Applied Digital during the 3rd quarter worth $3,204,000. AlphaQuest LLC purchased a new stake in Applied Digital during the 3rd quarter worth $1,369,000. MRA Advisory Group purchased a new stake in Applied Digital during the 3rd quarter worth $978,000. Finally, Vanguard Group Inc. increased its stake in Applied Digital by 23.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock worth $406,547,000 after buying an additional 3,339,062 shares during the period. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Company Profile

(Get Free Report)

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.