News about Applied Digital

Applied Digital shares rose 7.48% to $19.40 on Monday after regulatory filings showed two senior executives bought stock on Oct. 16, when shares hit a 52-week low. The stock had fallen 11.5% on Friday to close at $18.05 amid a broad sell-off in AI data center companies over borrowing, higher interest rates and elevated valuations. Rothschild & Co Redburn initiated coverage with a Neutral rating and a $22 target, and the company carries about $6.4 billion in debt, with a beta of about 6. Despite the sell-off, fiscal first-quarter revenue reached $341.9 million, far above analysts' expectations of about $125 million, and Morgan Stanley raised its target to $41 from $37.50 while keeping an Equal-Weight rating.