Applied Digital Corporation (APLD)Technology | Information Technology Services | Dallas, United States | NasdaqGS
23.25 USD
-0.43
(-1.816%) ⇩
(Oct. 12, 2026, 4 p.m.
EDT)
After hours: 23.01 -0.24 (-0.240%) ⇩ (Oct. 12, 2026, 7:59 p.m. EDT) |
Hot Take ↕ | Oct. 10, 2026, 3:19 a.m. EDT
The investment case for Applied Digital is currently defined by a stark disconnect between its deteriorating financial reality and its speculative valuation. Fundamentally, the business is bleeding cash with negative free cash flow of nearly $4.3 billion and a trailing P/E that is mathematically undefined due to losses. The balance sheet is fragile, carrying debt that is 170% of equity, which creates a significant risk of distress if capital markets tighten. While revenue growth is positive at 4%, it is insufficient to offset the massive operational burn, making the current price a premium for a company that is not yet profitable. However, the market is pricing in a binary outcome where the company successfully pivots to high-margin AI hosting. The options data confirms this sentiment, with heavy call buying targeting a $30 to $40 range by early 2027, implying a belief that the current $23.68 price is merely a stepping stone to a much higher valuation if the AI strategy executes. This creates a high-risk, high-reward scenario suitable only for aggressive traders willing to bet on a turnaround, rather than a stable long-term hold. For the conservative investor, the lack of dividends, negative earnings, and heavy debt load outweigh the potential upside of the AI narrative. |
| Model | MAE |
|---|---|
| AutoTheta ✓ | 0.075752 |
| AutoETS | 0.094110 |
| AutoARIMA | 0.094115 |
| MSTL | 0.096990 |
Forecast horizon: 45 days | Selected: AutoTheta
| Forecast Reliability | |
|---|---|
| Score | 35% |
| H-stat | 1.80 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.054 |
| Excess Kurtosis | 1.17 |
| Attribute | Value |
|---|---|
| Sector | Technology |
| Debt to Equity Ratio | 170.601 |
| Revenue per Share | 3.07 |
| Market Cap | 7,030,500,864 |
| Forward P/E | -29.64 |
| Beta | 6.00 |
| Profit Margins | -53.03% |
| Previous Name | Applied Science Products, Inc. |
| Website | https://applieddigital.com |
As of Oct. 10, 2026, 3:19 a.m. EDT: Speculators are aggressively positioning for a sharp upward move, evidenced by massive open interest walls at $30 and $40 strikes for January 2027 expirations. Call volume significantly exceeds open interest at near-term strikes ($23.50-$25.00), indicating active buying of leverage. Conversely, put activity is concentrated at lower strikes ($16-$20), suggesting a floor rather than a bearish thesis. Implied volatility is elevated across the board compared to historical norms, reflecting uncertainty around the upcoming earnings report and the company's ability to monetize its AI infrastructure bets.
| Attribute | Value |
|---|---|
| 52 Week Change | -0.33647263 |
| Address1 | 3,811 Turtle Creek Boulevard |
| Address2 | Suite 2100 |
| All Time High | 50.725 |
| All Time Low | 0.85 |
| Ask | 25.12 |
| Ask Size | 2 |
| Audit Risk | 10 |
| Average Analyst Rating | 1.4 - Strong Buy |
| Average Daily Volume10 Day | 26,504,760 |
| Average Daily Volume3 Month | 18,953,654 |
| Average Volume | 18,953,654 |
| Average Volume10Days | 26,504,760 |
| Beta | 5.997 |
| Bid | 23.54 |
| Bid Size | 2 |
| Board Risk | 5 |
| Book Value | 5.966 |
| City | Dallas |
| Compensation As Of Epoch Date | 1,798,675,200 |
| Compensation Risk | 10 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 23.25 |
| Current Ratio | 2.562 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,790,726,400 |
| Day High | 23.8276 |
| Day Low | 23.06 |
| Debt To Equity | 170.601 |
| Display Name | Applied Digital |
| Dividend Yield | 0.0 |
| Earnings Call Timestamp End | 1,791,403,200 |
| Earnings Call Timestamp Start | 1,791,403,200 |
| Earnings Timestamp | 1,791,403,200 |
| Earnings Timestamp End | 1,799,265,600 |
| Earnings Timestamp Start | 1,799,265,600 |
| Ebitda | -124,127,000 |
| Ebitda Margins | -0.14231 |
| Enterprise To Ebitda | -102.813 |
| Enterprise To Revenue | 14.631 |
| Enterprise Value | 12,761,859,072 |
| Eps Current Year | -1.06336 |
| Eps Forward | -0.78444 |
| Eps Trailing Twelve Months | -0.91 |
| Esg Populated | 0 |
| Exchange | NMS |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 26.9356 |
| Fifty Day Average Change | -3.6856003 |
| Fifty Day Average Change Percent | -0.13683008 |
| Fifty Two Week Change Percent | -33.647263 |
| Fifty Two Week High | 50.725 |
| Fifty Two Week High Change | -27.474998 |
| Fifty Two Week High Change Percent | -0.5416461 |
| Fifty Two Week Low | 19.005 |
| Fifty Two Week Low Change | 4.245001 |
| Fifty Two Week Low Change Percent | 0.22336233 |
| Fifty Two Week Range | 19.005 - 50.725 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 1,649,856,600,000 |
| Float Shares | 261,546,733 |
| Forward Eps | -0.78444 |
| Forward P E | -29.638979 |
| Free Cashflow | -4,283,429,632 |
| Full Exchange Name | NasdaqGS |
| Full Time Employees | 256 |
| Fullday Change | -0.6700001 |
| Fullday Change Percent | -2.8293922 |
| Fullday Price | 23.25 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,790,812,800 |
| Gross Margins | 0.21646 |
| Gross Profits | 188,804,000 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.07592 |
| Held Percent Institutions | 0.73595 |
| Implied Shares Outstanding | 302,387,140 |
| Industry | Information Technology Services |
| Industry Disp | Information Technology Services |
| Industry Key | information-technology-services |
| Ipo Expected Date | 2,022-04-13 |
| Is Earnings Date Estimate | 1 |
| Language | en-US |
| Last Fiscal Year End | 1,780,185,600 |
| Last Split Date | 1,649,808,000 |
| Last Split Factor | 1:6 |
| Long Business Summary | Applied Digital Corporation designs, develops, and operates digital infrastructure solutions to high-performance computing (HPC) and artificial intelligence industries in North America. It operates through: Data Center Hosting, and HPC Hosting Business. The company provides energized infrastructure services to crypto mining customers; and cloud services to customers, such as AI and machine learning developers. It also engages in the designing, constructing, and operating of data centers to provide computing power and support HPC applications. The company was formerly known as Applied Blockchain, Inc. and changed its name to Applied Digital Corporation in November 2022. Applied Digital Corporation is based in Dallas, Texas. |
| Long Name | Applied Digital Corporation |
| Market | us_market |
| Market Cap | 7,030,500,864 |
| Market State | PREPRE |
| Max Age | 86,400 |
| Message Board Id | finmb_3563673 |
| Most Recent Quarter | 1,788,134,400 |
| Name Change Date | 2,026-10-13 |
| Net Income To Common | -451,768,992 |
| Next Fiscal Year End | 1,811,721,600 |
| Non Diluted Market Cap | 7,741,592,800 |
| Number Of Analyst Opinions | 15 |
| Open | 23.55 |
| Operating Cashflow | 235,136,992 |
| Operating Margins | -0.18246001 |
| Overall Risk | 9 |
| Peg Ratio | 1.83 |
| Phone | 214 427 1704 |
| Post Market Change | -0.23999977 |
| Post Market Change Percent | -1.0322571 |
| Post Market Price | 23.01 |
| Post Market Time | 1,791,849,582 |
| Prev Name | Applied Science Products, Inc. |
| Previous Close | 23.68 |
| Price Eps Current Year | -21.864656 |
| Price Hint | 2 |
| Price To Book | 3.8970835 |
| Price To Sales Trailing12 Months | 8.060171 |
| Profit Margins | -0.53033 |
| Quick Ratio | 1.929 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | strong_buy |
| Recommendation Mean | 1.4 |
| Region | US |
| Regular Market Change | -0.43 |
| Regular Market Change Percent | -1.81588 |
| Regular Market Day High | 23.8276 |
| Regular Market Day Low | 23.06 |
| Regular Market Day Range | 23.06 - 23.8276 |
| Regular Market Open | 23.55 |
| Regular Market Previous Close | 23.68 |
| Regular Market Price | 23.25 |
| Regular Market Time | 1,791,835,201 |
| Regular Market Volume | 15,371,375 |
| Return On Assets | -0.02032 |
| Return On Equity | -0.13623999 |
| Revenue Growth | 3.224 |
| Revenue Per Share | 3.07 |
| Sand P52 Week Change | 0.17318833 |
| Sector | Technology |
| Sector Disp | Technology |
| Sector Key | technology |
| Share Holder Rights Risk | 3 |
| Shares Outstanding | 302,387,140 |
| Shares Percent Shares Out | 0.1893 |
| Shares Short | 56,633,429 |
| Shares Short Previous Month Date | 1,788,134,400 |
| Shares Short Prior Month | 58,427,815 |
| Short Name | Applied Digital Corporation |
| Short Percent Of Float | 0.2047 |
| Short Ratio | 3.65 |
| Source Interval | 15 |
| State | TX |
| Symbol | APLD |
| Target High Price | 93.0 |
| Target Low Price | 22.0 |
| Target Mean Price | 64.26667 |
| Target Median Price | 70.0 |
| Total Cash | 2,949,908,992 |
| Total Cash Per Share | 9.755 |
| Total Debt | 6,483,407,872 |
| Total Revenue | 872,252,032 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -0.91 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 32.0758 |
| Two Hundred Day Average Change | -8.825802 |
| Two Hundred Day Average Change Percent | -0.27515453 |
| Type Disp | Equity |
| Volume | 15,371,375 |
| Website | https://applieddigital.com |
| Zip | 75,219 |