Applied Digital
APLD

$4.44

1.46%

Market Cap: 651M

About: 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.

Employees: 121

Information Technology Computer Processing & Data Preparation

0

Funds holding %

of 6,702 funds

0

Analysts bullish %

of 14 analysts

0

News positive %

of 3 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

304% more call options, than puts

Call options by funds: $18.3M | Put options by funds: $4.52M

71% more repeat investments, than reductions

Existing positions increased: 53 | Existing positions reduced: 31

0% more funds holding in top 10

Funds holding in top 10: 4 [Q4 2023] → 4 (+0) [Q1 2024]

8.94% less ownership

Funds ownership: 61.7% [Q4 2023] → 52.76% (-8.94%) [Q1 2024]

16% less funds holding

Funds holding: 134 [Q4 2023] → 112 (-22) [Q1 2024]

38% less capital invested

Capital invested by funds: $442M [Q4 2023] → $274M (-$168M) [Q1 2024]

58% less first-time investments, than exits

New positions opened: 16 | Existing positions closed: 38

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Research analyst outlook

14 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$5

13%

upside

Avg. target

$9.79

120%

upside

High target

$16

260%

upside

14 analyst ratings

14 positive

100%

0 neutral

0%

0 negative

0%

Needham John Todaro	148%upside $11	Buy Reiterated	10 Jul 2024
Roth MKM Darren Aftahi	148%upside $11	Buy Maintained	10 Jul 2024
B. Riley Securities Lucas Pipes	80%upside $8	Buy Maintained	28 Jun 2024
Roth MKM Darren Aftahi	148%upside $11	Buy Maintained	24 Jun 2024
Needham John Todaro	148%upside $11	Buy Reiterated	14 Jun 2024

See Analyst Rankings

Financial journalist opinion

Based on 3 articles about APLD published over the past 30 days

Zacks Investment Research

Earnings Preview: Applied Digital Corporation (APLD) Q4 Earnings Expected to Decline

Applied Digital Corporation (APLD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Applied Digital Corporation (APLD) Q4 Earnings Expected to Decline

Applied Digital: An Alternative Way To Invest In AI Infrastructure

From the moment Nvidia's silicon is shipped to the point when it can drive AI applications, a key step is to house them in data centers. To this end, Applied Digital Corporation's purpose-built HPC data center is advantageous compared to retrofitting older facilities to make them AI-ready and can also rely on its previous blockchain experience. I also shed light on the FCF impact given the financing model based on asset-level financing, which can be daunting for risk-averse investors allergic to high debt levels.

Applied Digital: An Alternative Way To Invest In AI Infrastructure

Applied Digital Boosts Stock with Cutting-Edge AI Data Centers

Applied Digital Co. NASDAQ: APLD designs, develops and operates next-generation data centers accommodating artificial intelligence (AI) service providers in the high-performance computing (HPC) industry. The AI boom has been driving the demand for more data centers, which is driving demand for next-gen data centers that fall right in Applied Digital's wheelhouse.

Applied Digital Boosts Stock with Cutting-Edge AI Data Centers

CIM Group Makes $125 Million Loan Commitment, Expandable up to $200 Million, to Support Applied Digital's Buildout of a High-Performance Computing Campus in Ellendale, North Dakota

LOS ANGELES--(BUSINESS WIRE)--CIM Group closes $125 million loan to Applied Digital for construction of HPC data center campus in Ellendale, North Dakota.

CIM Group Makes $125 Million Loan Commitment, Expandable up to $200 Million, to Support Applied Digital's Buildout of a High-Performance Computing Campus in Ellendale, North Dakota

Applied Digital Secures Private Debt Facility of up to $200 million to Accelerate HPC Data Center Project in Ellendale, North Dakota

DALLAS, June 07, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (“HPC”) applications, announced today that the Company has secured private financing from CIM Group, a leading investment firm and alternative asset manager with extensive experience in top-tier datacenter finance and development. APLD Holdings 2, LLC, a subsidiary of the Company (the “Borrower”), has issued a Promissory Note (the “Note”) for commitments that total $125 million at close (“Initial Commitments”). Of the Initial Commitments, $15 million will be drawn on the date hereof, and the remaining will be drawn subject to the satisfaction of certain conditions outlined in the Note. In addition to the Initial Commitments, the Note includes an accordion feature that allows for up to an additional $75 million of borrowings, subject to the mutual agreement of the Borrower and lender. Principal amounts repaid under the Note will not be available for reborrowing. In total, this financing provides the Company with up to $200 million to be used solely towards the buildout of its HPC Campus in Ellendale, ND.

Applied Digital Secures Private Debt Facility of up to $200 million to Accelerate HPC Data Center Project in Ellendale, North Dakota

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Applied Digital Issues Unsecured Convertible Debenture to Advance HPC Data Center Project in Ellendale, North Dakota

DALLAS, May 24, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (“HPC”) applications, announced that the Company recently entered into a private financing agreement with a single investor (the “Investor”), in which it issued a $42,131,579 unsecured convertible debenture. The convertible debenture bears no interest, has an original issue discount of five percent and has a term of 54 weeks. The conversion price for the note is the lower (a) $8.00 and (b) 95% of the lowest daily volume weighted average price of the Company's common stock during the five trading days immediately prior to the date of conversion. Below $8.00, the Investor is limited to converting no more than $16.0 million per month in the aggregate across all convertible debentures held by the Investor, which is roughly five percent of the previous thirty days value traded or less than two days of liquidity. Subject to the Investor's right to convert, the Company may prepay the note at any time that the Company's common stock trades below $8.00 or the thirtieth trading day after the registration statement registering the resale of the note's underlying shares becomes effective. The Investor has contractually agreed not to short the stock during the term of the note.

Applied Digital Issues Unsecured Convertible Debenture to Advance HPC Data Center Project in Ellendale, North Dakota

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Applied Digital Announces Upcoming Conference Participation

DALLAS, May 08, 2024 (GLOBE NEWSWIRE) -- Applied Digital Corporation (Nasdaq: APLD) ("Applied Digital" or the "Company"), a designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications, today announced its participation in the 19th Annual Needham Technology & Media Conference, 24th Annual B. Riley Institutional Investor Conference, and 21st Annual Craig-Hallum Institutional Investor Conference.

Applied Digital Announces Upcoming Conference Participation

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