Applied Digital Corporation (APLD) Stock Price & Analysis

Applied Digital Corporation (APLD) closed at USD 19.09 on Thursday, October 22, 2026, down 9.01% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 20.98; the Oct 22, 2026 session ranged USD 18.72–20.5 on volume of 26,699,910 shares. Market capitalization is $5.77B, with a 52-week range of USD 17.65–50.73 (NMS). Source: Nexqual, retrieved October 23, 2026 at 09:21 UTC.

Also available as compact Markdown for AI agents: nexqual.com/APLD.md

Key facts (APLD)

• Last four reported quarters (through Aug 31, 2026): revenue $854M, net income -$351M (-41.2% margin), free cash flow -$4.46B (SEC filings).
• 3 of 80 tracked superinvestors hold APLD (13F, Q2 2026): 3 new, 0 added, 0 reduced, 0 unchanged.
• Insider open-market sales, last ~7 months: 4 Form 4 filings, $4.2M; 4 not under a Rule 10b5-1 plan ($4.2M); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
• Insider open-market purchases, last ~7 months: 2 Form 4 filings, $6.7M; 1 by opportunistic insiders, 0 by routine insiders.
• Analysts: Buy (mean 2.00 on a 1–5 scale) (16 analysts), mean target USD 62.44 (range 22–93).
• Total return with dividends: 1Y -42.8% vs S&P 500 +14.9%; 5Y +299.4% vs S&P 500 +80.3%.
• Next earnings: 2027-01-06, EPS estimate USD -0.17, revenue estimate $159M.

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (APLD)

Fiscal years end May. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Aug 31, 2026) (APLD)

P/S 6.8x · EV/Sales 10.6x · P/B 3.6x · FCF yield -77.18% · Earnings yield -6.09% · Net debt $3.31B · EV $9.09B

Superinvestors (SEC 13F-HR, Q2 2026) (APLD)

3 of 80 tracked investors hold APLD. Each row is the investor's latest 13F; change is vs their prior-quarter share count.

Insider sales (SEC Form 4, open-market, last ~7 months) (APLD)

0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Insider purchases (SEC Form 4, open-market, last ~7 months) (APLD)

2 purchases, $6.7M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.

Analysts (APLD)

Consensus Buy (mean 2.00 on a 1–5 scale), 16 analysts; mean target USD 62.44 (low 22, high 93).

Rating changes, last 120 days:

Total return (dividends reinvested) (APLD)

APLD revenue by business segment (quarter ended Aug 31, 2026)

As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).

APLD suppliers, customers and competitors (named in its 10-K)

Quoted from the company's 10-K filed Jul 29, 2026.

APLD customer concentration

In the period ended Aug 31, 2026, 4 direct customers each accounted for at least 10% (56%, 21%, 11%, 0%) of revenue, per the company's 10-Q filed Oct 7, 2026. The company does not name them.

APLD company outlook (results filed Oct 7, 2026)

• “The Company expects initial operations at Polaris Forge 2 in Harwood to increase delivered critical IT load across our North Dakota campuses to 300 MW by the end of calendar 2026, further demonstrating the Company's ability to execute against its development pipeline.”
• “Polaris Forge 1 in Ellendale, North Dakota, was recently named Project of the Year by the Mid-America Economic Development Council for its economic impact, community investment, partnerships, and technological innovation.”
• “This increase was primarily due to increases of $51.7 million in stock based compensation due to performance awards and the increase in headcount, $9.9 million in personnel expenses related to the increase in headcount, and $12.1 million in professional service expense primarily related to legal services provided on discrete transactions and projects, as well as general support of the business.”
• “(3) Represents legal, accounting and consulting costs incurred in association with certain discrete transactions and projects.”

Quoted word-for-word from the SEC 8-K results press release.

APLD analyst estimates and revisions

APLD options: expected move

Options price a move of about ±36.6% (±$6.88) by Jan 15, 2027, which includes earnings on Jan 6, 2027; the earnings reaction alone is priced at about ±9.9%. Over the last 8 reports the stock moved ±13.7% on average.

30-day implied volatility 95.6% vs 84.3% realized over the last 30 trading days. Put/call ratio (volume) 0.45. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.

Key Statistics (as of October 23, 2026 at 09:21 UTC)

Technical Analysis (APLD)

Nexqual's technical model rates APLD "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 09:21 UTC.

Analyst Ratings (APLD)

Wall Street analysts rate APLD "Buy" based on 16 analysts, with a mean price target of USD 62.44 (range USD 22–93), per Nexqual as of October 23, 2026 at 09:21 UTC.

Earnings (APLD)

Recent Earnings History

Source: Nexqual, October 23, 2026 at 09:21 UTC.

Financials & Fundamentals (APLD)

Source: Nexqual, October 23, 2026 at 09:21 UTC.

Financial Health Score (APLD)

Nexqual rates Applied Digital Corporation's overall financial health "Weak" across five dimensions, as of October 23, 2026 at 09:21 UTC.

Ownership (APLD)

Source: Nexqual, October 23, 2026 at 09:21 UTC.

Leadership (APLD)

Applied Digital Corporation is led by Wesley Cummins, Chairman, CEO, Secretary & Treasurer, per Nexqual as of October 23, 2026 at 09:21 UTC.

Major Backers & Investors (APLD)

Notable institutional backers of Applied Digital Corporation include Hood River Capital Management LLC, Situational Awareness LP , Manager Directed Portfolios-Hood River Small-Cap Growth Fund, according to Nexqual as of October 23, 2026 at 09:21 UTC.

Active Investors

Index Funds (Passive)

Source: Nexqual, October 23, 2026 at 09:21 UTC.

From Applied Digital Corporation's Latest SEC 10-K Filing (filed 2026-07-29)

Key Strengths & Strategy (as disclosed to the SEC)

• As of May 31, 2026, we had executed long-term leases representing approximately 1,410 MW of contracted critical IT load across five campuses, representing approximately $36.2 billion of total contracted revenue over the initial 15-year base lease terms.
• Over the past several fiscal years, we have evolved from a company focused on blockchain hosting into a purpose-built HPC data center platform organized around our proprietary AI factory model.
• We have developed a pipeline of potential power sources across our sites in Jamestown and Ellendale, North Dakota.
• Through our build-out of our first North Dakota facility and the prior experience our leadership team brings to our initiatives, we believe that we have developed a repeatable power strategy to significantly scale our operations.

Partnerships

• The aggregate 300 MW of critical IT load is contracted under two approximately 15-year leases (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $7.5 billion of contracted revenue over the base term, with expected delivery beginning in the second half of calendar year 2027 through the second half of calendar year 2028.
• The full 210 MW of critical IT load is contracted under an approximately 15-year lease (with three five-year renewal options) with a high investment-grade hyperscaler, representing approximately $5.2 billion of contracted revenue over the base term, with expected delivery in the first half of calendar year 2028.

Legal & Regulatory Risks (Item 1A, quoted)

• We are subject to a highly evolving regulatory landscape and any adverse changes to certain laws or regulations could adversely affect our customers and our business, prospects or operations.
• We could incur significant costs related to environmental matters, including from government regulation, private litigation, and existing conditions at some of our properties.
• We may become subject to regulatory inquiry relating to trading activity and/or short selling strategies in our common stock.
• We may become involved in litigation arising in the ordinary course of our business that may materially adversely affect us.

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:21 UTC. This page is informational and not investment advice.

For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt