Applied Digital Sees Unusually High Options Volume (NASDAQ:APLD)

Applied Digital Corporation (NASDAQ:APLD) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 131,134 call options on the company. This is an increase of approximately 28% compared to the typical daily volume of 102,641 call options.

Applied Digital Price Performance

Shares of NASDAQ APLD traded up $2.61 during mid-day trading on Wednesday, hitting $27.79. 37,826,849 shares of the stock traded hands, compared to its average volume of 26,974,518. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. Applied Digital has a twelve month low of $3.31 and a twelve month high of $42.27. The company has a market cap of $7.77 billion, a PE ratio of -51.46 and a beta of 7.25. The firm has a 50 day simple moving average of $29.53 and a two-hundred day simple moving average of $29.48.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Wednesday, April 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.22. Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The company had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. As a group, equities research analysts forecast that Applied Digital will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Texas Capital raised Applied Digital to a “strong-buy” rating in a report on Tuesday, January 20th. Roth Mkm reaffirmed a “buy” rating on shares of Applied Digital in a report on Tuesday, February 17th. Freedom Capital raised Applied Digital to a “strong-buy” rating in a report on Tuesday, January 6th. Arete Research began coverage on Applied Digital in a report on Wednesday, January 7th. They set a “buy” rating on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $41.00 price objective on shares of Applied Digital in a report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $37.00.

More Applied Digital News

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

• Positive Sentiment: Q3 beat: Applied Digital reported $0.09 EPS vs. consensus -$0.13 and revenue of $108.6M vs. ~$78.5M, a clear surprise that underpins the stock rally. Press Release
• Positive Sentiment: Demand tailwinds: Reuters notes the revenue beat was driven by steady enterprise demand for data-center colocation and services supporting generative AI workloads, signaling durable top-line momentum. Applied Digital beats quarterly revenue estimates
• Neutral Sentiment: Operational update & results filing: GlobeNewswire release summarizes the quarter and operational progress on the company’s AI-focused campuses and capacity buildouts—useful for tracking execution and future revenue ramps. Applied Digital Reports Fiscal Third Quarter 2026 Results
• Neutral Sentiment: Pre-earnings positioning and sentiment: previews and analyst pieces flagged Q3 as a binary event and helped position momentum into the print; short/inverse product interest has risen in recent days. Earnings preview
• Negative Sentiment: Margin & profitability concerns: despite the beat, Applied Digital reported a negative net margin (~-43%) and negative ROE; profitability remains weak which keeps valuation fragile. Press Release
• Negative Sentiment: Rising debt & interest costs: multiple analyst pieces warn that rapid expansion and higher interest expense could outpace cash flow, pressuring margins and execution risk on the remaining buildout commitments. Can APLD Navigate Rising Interest Costs?
• Negative Sentiment: Geopolitical & supply risks: coverage flagged supply-chain exposure tied to geopolitical tensions (e.g., Iran war) that could disrupt equipment deliveries and timelines for capacity ramps. Balance Debt Costs

Insiders Place Their Bets

In other Applied Digital news, Director Chuck Hastings sold 45,987 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $38.57, for a total value of $1,773,718.59. Following the sale, the director owned 388,372 shares of the company’s stock, valued at approximately $14,979,508.04. This trade represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 12,000 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $35.45, for a total value of $425,400.00. Following the completion of the sale, the director directly owned 233,378 shares in the company, valued at approximately $8,273,250.10. This represents a 4.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 244,593 shares of company stock worth $9,003,278. 9.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Applied Digital

A number of hedge funds have recently made changes to their positions in APLD. AQR Capital Management LLC increased its position in Applied Digital by 84.8% during the 1st 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 during the period. NewEdge Advisors LLC raised its holdings in Applied Digital by 239.1% during the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock worth $187,000 after purchasing an additional 23,457 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Applied Digital by 113.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock worth $37,000 after purchasing an additional 3,542 shares during the last quarter. Strs Ohio bought a new position in Applied Digital during the 1st quarter worth approximately $71,000. Finally, Cetera Investment Advisers raised its holdings in Applied Digital by 61.0% during the 2nd quarter. Cetera Investment Advisers now owns 61,656 shares of the company’s stock worth $621,000 after purchasing an additional 23,360 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

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.