---
title: "Applied Digital Co. (NASDAQ:APLD) Short Interest Update"
description: "Applied Digital Co. (NASDAQ: APLD) experienced a significant decline in short interest in July, with 17,240,000 shares sold short as of July 31, representing a 6.2% decrease from 18,380,000 shares on "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/211907404.md"
published_at: "2024-08-19T06:55:02.000Z"
---

# Applied Digital Co. (NASDAQ:APLD) Short Interest Update

> Applied Digital Co. (NASDAQ: APLD) experienced a significant decline in short interest in July, with 17,240,000 shares sold short as of July 31, representing a 6.2% decrease from 18,380,000 shares on July 15. Approximately 16.4% of the shares are currently sold short, with a days-to-cover ratio of 3.1 based on an average trading volume of 5,490,000 shares. Analysts maintain a "buy" rating on the stock, with varying price targets. Institutional investors own 65.67% of the company, which focuses on digital infrastructure solutions and AI services.

Applied Digital Co. (NASDAQ:APLD - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 17,240,000 shares, a drop of 6.2% from the July 15th total of 18,380,000 shares. Based on an average daily trading volume, of 5,490,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 16.4% of the company's shares are sold short.

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## Analyst Ratings Changes

-   Applied Digital Boosts Stock with Cutting-Edge AI Data Centers

Several brokerages recently issued reports on APLD. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Applied Digital in a research note on Wednesday, July 10th. B. Riley increased their target price on Applied Digital from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Friday, June 28th. Roth Mkm reaffirmed a "buy" rating and issued a $11.00 price target on shares of Applied Digital in a research report on Wednesday, July 10th. Finally, HC Wainwright reissued a "buy" rating and set a $5.00 price objective on shares of Applied Digital in a research report on Wednesday, June 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $8.40.

**Check Out Our Latest Research Report on Applied Digital**

## Institutional Investors Weigh In On Applied Digital

-   Is Applied Digital’s 35% stock plunge an AI buying opportunity?

A number of large investors have recently made changes to their positions in APLD. Principal Financial Group Inc. purchased a new position in shares of Applied Digital in the first quarter worth approximately $50,000. Headlands Technologies LLC raised its position in Applied Digital by 381.8% in the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company's stock worth $52,000 after acquiring an additional 6,933 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Applied Digital by 380.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,017 shares of the company's stock worth $54,000 after acquiring an additional 6,347 shares during the last quarter. ARS Investment Partners LLC bought a new stake in shares of Applied Digital during the 2nd quarter valued at $60,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Applied Digital in the 4th quarter worth $78,000. 65.67% of the stock is currently owned by institutional investors.

## Applied Digital Price Performance

APLD opened at $4.01 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.30. The company's 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $4.38. Applied Digital has a 52-week low of $2.36 and a 52-week high of $8.65. The stock has a market capitalization of $550.21 million, a P/E ratio of -5.08 and a beta of 4.56.

## About Applied Digital

(Get Free Report)

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.

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*This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.*

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
