Applied Digital (OTCMKTS:APLD) Stock Price Down 5.5% – Here’s Why

Applied Digital Co. (OTCMKTS:APLD) fell 5.5% during mid-day trading on Friday . The stock traded as low as $24.06 and last traded at $24.30. 4,059,172 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 34,784,953 shares. The stock had previously closed at $25.72.

Applied Digital Trading Down 5.6%

The stock has a 50-day simple moving average of $28.58 and a 200 day simple moving average of $20.47. 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 company has a market cap of $6.78 billion, a price-to-earnings ratio of -49.54 and a beta of 6.94.

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.