Breaking: Applied Digital's Q4 Revenue Outlook Disappoints; Lucid Secures Major Investment
- June 27th, 2023
- 187 views
Applied Digital Corporation (Nasdaq: APLD) has revealed in a regulatory filing with the SEC a revenue guidance that falls below analysts' estimates.
For the fiscal fourth quarter of 2023, the company expects that its overall revenues will be approximately $22 million, which is below the consensus estimate of $30.06 million for the same period.
Nevertheless, HC Wainwright & Co. reiterated Applied Digital with a Buy and maintained the price target at $12.
$APLD was trading at $8.79 in pre-market, reflecting a decrease of $0.40 (4.35%).
In other news, Lucid Group, Inc. (Nasdaq: LCID) also announced through a regulatory filing with the SEC that Ayar Third Investment Company has acquired a significant stake in the company.
Ayar Third Investment purchased 265,693,703 shares of Lucid Group's Class A common stock in a private placement, amounting to around $1.8 billion
In pre-market, $LCID is trading at $5.83, up $0.28 (+5.05%)
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