It's teaming up with a peer to develop an AI data center in Texas.
APLD Applied Digital Corporation Common Stock
XNAS
20.88
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
APLD
$20.88
—
Key stats
$20.88
Pre-market
$20.10
-4.19%
- 52-Week Range
- $17.65 – $50.73
- YTD
- -25.72%
- IV Rank (30D)
- 47.5
- Straddle Price
- $4.41
- P/C Vol Ratio
- 0.28
- Market Cap
- $5.8B
- Open
- $20.20
- Day Range
- $19.87 – $21.56
- Volume
- 29,200,919
- Prev Close
- $19.33
Fair Value
MODEL: NEUTRAL
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 5.15% |
| Beta vs SPY | 2.37 |
| Cost of Equity (CAPM) | 18.21% (VRP-adj) |
| WACC | 11.72% |
| Volatility Risk Premium | +41.1pp (IV − HV30), ERP adj +50bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | +30.0% |
| DCF Horizon | 5 years explicit + fade |
| Forward Tilt (NTM/TTM) | ×1.10 (applied to P/E, EV/EBITDA, P/S) |
| Free Cash Flow (TTM) | $-4.5B |
| Return on Equity (TTM) | -29.2% |
| Book / Price | 27.0% |
| Gross Margin (TTM) | 25.4% |
| FCF Margin (TTM) | -521.8% |
| Debt / Equity | 3.90 |
| Quality Score | 1/6 — cyclical/struggling (5y DCF) |
| SMA 50 | $25.60 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $23.13 |
| Bollinger Width / SMA20 | 186.5% (drives anchor stability) |
| Net Debt | $3.3B |
| Market Cap | $6B |
Peers used for multiples: AAOI, ALAB, AMD, MSFT, MU, NVDA, TSM, XYZ
60-Day Conviction
8%
20-Day Fair Value
≈ by Nov 20, 2026
$21.04
α +0.3%
rank 80%
conviction
19%
40-Day Fair Value
≈ by Dec 21, 2026
$20.61
α -1.7%
rank 80%
conviction
55%
60-Day Fair Value
≈ by Jan 19, 2027
$20.93
α -0.2%
rank 80%
conviction
8%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | median 80.5× · 6 peers |
| Peer EV/EBITDA | n/a | 0% | median 28.3× · 6 peers |
| Peer P/B | $50.55 | 12% | median 8.9× · 7 peers |
| Peer P/S | $39.34 | 12% | median 11.9× · 7 peers |
| Market Anchor (SMA50) | $25.60 | 43% | stability 68% (BB-width) |
| Options Expected (B-L 30d) | $20.51 | 32% | 43 strikes · skew +0.15 |
As of 2026-10-22 · updated
Related
About
- Industry (SIC)
- SERVICES-COMPUTER PROCESSING & DATA PREPARATION (7374) · industry map
- Exchange
- XNAS
- Market Cap
- $5.8B
- Employees
- 256
- List Date
- 2002-07-22
- CIK
- 0001144879
- Headquarters
- Dallas, TX
- Homepage
- https://www.applieddigital.com
Applied Digital Corp is a U.S. based designer, developer, owner, and operator of large-scale, purpose-built data centers engineered to support high-performance computing (HPC) workloads, including artificial intelligence (AI), machine learning, and other accelerated-compute applications. It design, build, and operate high-performance, sustainably engineered data centers which it refer to as AI factories and deliver that capacity to investment-grade hyper scalers and other compute customers under long-term lease and hosting arrangements. The company has two segments Data Center Hosting Business…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -- | -63.05% | 68.48% | -26.15% | -8.72% | 20.53% | -1.78% |
| Feb | -- | 10.59% | -19.21% | -17.17% | 8.84% | -21.64% | -7.72% |
| Mar | -- | 38.10% | -17.34% | 1.66% | -18.31% | -15.00% | -2.18% |
| Apr | -- | -78.29% | 36.17% | -34.18% | -25.45% | 39.85% | -12.38% |
| May | -- | 63.73% | 170.00% | 41.00% | 31.09% | 40.92% | 69.35% |
| Jun | -- | -78.40% | 1.52% | 50.25% | -0.69% | -22.19% | -9.90% |
| Jul | -- | 119.69% | -3.33% | -25.23% | 34.63% | -24.27% | 20.30% |
| Aug | -- | 5.33% | -34.77% | -18.71% | 27.64% | -13.84% | -6.87% |
| Sep | -- | -22.37% | 7.96% | 161.90% | 50.33% | 0.33% | 39.63% |
| Oct | -- | 30.06% | -20.39% | -16.34% | 38.64% | -13.16%* | 3.76% |
| Nov | -- | -14.85% | -5.27% | 56.35% | -17.55% | -- | 4.67% |
| Dec | 0.00% | -3.66% | 29.87% | -20.58% | -13.08% | -- | -1.49% |
| Total | 0.00% | -91.70% | 180.00% | 43.39% | 102.17% | -30.02% | 33.98% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $23.13
SMA 50: $25.60
SMA 200: $31.88
Current: $20.98
EMA 12: $21.41
EMA 26: $23.21
MACD: -1.8059 | Signal: -0.3177
BEARISH
ADX (14): 26.50
TREND
+DI: 16.06
−DI: 31.84
Momentum Oscillators
RSI (14): 40.88
NEUTRAL
Stoch %K: 23.94
Stoch %D: 17.49
Williams %R: -63.81
Volume & Volatility
BB Upper: $28.12
BB Lower: $18.14
NEUTRAL
OBV: 1,338,608,972
Vol SMA 20: 26,081,121
Vol ROC: -40.63%
ATR: $1.81
True Range: $2.23
HV 20: 81.5%
HV 30: 81.4%
HV 60: 89.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
APLD (Applied Digital) - Comprehensive Stock Analysis Report
Executive Summary
Overall Assessment: BEARISH | Confidence Level: 7/10
Applied Digital presents a high-risk, conflicted technical setup with significant fundamental headwinds despite impressive contracted revenue. The stock is caught between a compelling long-term narrative ($36B contracted revenue base) and deteriorating near-term execution (Q1 earnings miss on costs). The dramatic technical breakdown—trading 26% below its 200-day MA—combined with extremely elevated volatility (85.8% HV60) and a concerning 3.82 beta creates a risk environment that heavily favors defensive positioning.
Key Drivers:
- Negative: Q1 earnings miss on higher costs, technical breakdown below all major moving averages, extreme volatility, weak momentum indicators
- Positive: $36B contracted revenue runway, AI factory expansion focus, strategic Nordic expansion (Finland power capacity)
Investment Thesis: APLD is experiencing a confidence crisis where operational execution concerns are overriding the appeal of its massive revenue backlog. The technical capitulation signals institutional distribution, and the risk/reward currently favors waiting for stabilization before aggressive deployment of capital. The stock appears to be in a correction phase within a longer-term growth story.
Recent News Sentiment Impact: News catalysts on 10/08 (earnings date) triggered mixed sentiment that failed to stabilize the stock. While revenue beat headline is positive, the earnings miss on costs is the dominant narrative, aligning with the bearish technical breakdown observed in price action.
Technical Analysis
Trend Direction
| Timeframe | Direction | Status | Confidence | |-----------|-----------|--------|------------| | Short-term (1-4 weeks) | DOWNTREND | Bearish | High | | Medium-term (1-3 months) | DOWNTREND | Bearish | High | | Long-term (3-12 months) | Weakening Uptrend → Potential Reversal | Cautious | Medium |
Detailed Assessment:
The price action reveals a clear bearish structure across multiple timeframes:
- Current price ($23.68) is trading 26.2% below the 200-day MA ($32.09)
- Price is 7.0% below the 50-day MA ($27.02)
- Price is 6.9% below the 20-day MA ($25.47)
- All three moving averages are in bearish alignment (20 < 50 < 200), indicating deteriorating trend strength
The gap between current price and the 200-day MA suggests this is not a minor pullback but a significant structural breakdown. Medium-term trend is definitively bearish, with price in the lower half of the Bollinger Bands range.
Support/Resistance Levels
Immediate Support Levels (Critical to Monitor):
- $22.30 — Bollinger Band Lower (first dynamic support)
- $21.45 — Previous swing low (approximate)
- $20.00 — Psychological/round number (secondary support)
Resistance Levels (Breakout Threshold):
- $25.47 — 20-day SMA (immediate resistance, current price near this level)
- $27.02 — 50-day SMA (stronger resistance)
- $28.63 — Upper Bollinger Band (breakout level; reclaiming this would signal trend reversal)
- $32.09 — 200-day SMA (psychological barrier for long-term buyers)
Analysis: The stock is trading in the lower portion of its Bollinger Bands, suggesting potential mean reversion bounce toward the $25-27 range, but the bearish moving average alignment argues against sustainable recovery without additional catalyst strength.
Momentum Signals
RSI (14): 41.16 — NEUTRAL with bearish bias
- Not in oversold territory (<30), but below 50 midpoint
- Lacks the extreme reading that typically precedes reversal bounces
- RSI around 40 suggests neither buyers nor sellers are exhausted
- Implication: Further downside is possible before capitulation
MACD: -0.85 / Signal: -0.13 / Histogram: -0.72 — BEARISH CROSSOVER
- MACD remains below the signal line (negative histogram of -0.72)
- The gap between MACD and signal line is widening, indicating strengthening bearish momentum
- This is NOT a reversal signal; it's an acceleration of the downtrend
- Implication: Momentum favors sellers over buyers in the near term
Stochastic Oscillators: %K 13.07 / %D 16.64 — OVERSOLD EXTREMES
- Both Stochastic lines are in extreme oversold territory (<20)
- Williams %R of -83.71 is similarly deeply oversold (below -80)
- Implication: These readings suggest the selling has been exhaustive and a relief bounce could materialize; however, price could remain compressed before bounce
- Caveat: Oversold conditions can persist in strong downtrends; these are better used for confirming bounces than predicting reversals
Bollinger Bands: Neutral Position
- Price at $23.68 is positioned between the lower band ($22.30) and middle band ($25.47)
- Width of 24.85 indicates moderate expansion, not extreme volatility squeeze
- Implication: While not in a squeeze setup, bands suggest price could oscillate between $22.30-$25.47 before major directional move
Overall Momentum Assessment: BEARISH with exhaustion signals
- The combination of negative MACD histogram divergence + oversold stochastics + neutral RSI creates a setup where short-term bounce is possible but within a bearish structure
- Buyers are not engaged (RSI < 50), sellers are not exhausted (RSI > 30), suggesting apathy rather than climax
News & Sentiment Analysis
Recent Headlines Summary (10/06 - 10/08)
| Date | Headline | Sentiment | Relevance | |------|----------|-----------|-----------| | 10/08 | Q1 Earnings Miss on Higher Costs | NEGATIVE | High Impact | | 10/08 | Revenue Beat, $36B Backlog | NEUTRAL/POSITIVE | Medium Impact | | 10/08 | AI Factory Expansion Focus | POSITIVE | Medium Impact | | 10/07 | Reports Q1 Loss, Tops Revenue | NEGATIVE | High Impact | | 10/06 | Finland Nordic Power Capacity Secured | POSITIVE | Low-Medium Impact |
Sentiment Assessment: MIXED to NEGATIVE (Net: -2/5)
Breakdown:
- 3 Negative headlines dominate the narrative (earnings miss on costs, Q1 loss)
- 2 Positive headlines partially offset (AI factory expansion, Nordic expansion)
- 1 Neutral headline acknowledges the conflicting signals
Critical Pattern: All earnings-related news (10/07-10/08) coincides with the technical breakdown. The market repriced APLD sharply lower on earnings miss despite revenue beat, indicating:
- Market prioritizes cost structure over revenue pipeline — concerns about profitability sustainability
- Expectations were set higher — the beat on revenue wasn't sufficient to overcome cost miss surprise
- Forward guidance likely disappointing — typical when stock breaks down post-earnings
Catalyst Identification
Immediate Catalysts (1-7 days):
- None identified; post-earnings quiet period likely
Near-term Catalysts (1-4 weeks):
- Analyst revisions — expect downgrades if cost inflation is systemic
- Management commentary updates — watch for guidance revisions on earnings call transcripts
- Technical breakdown follow-through — if $22.30 support breaks, could accelerate selling to $20
Medium-term Catalysts (1-3 months):
- Q2 earnings preview — market will scrutinize whether cost issues persist or improve
- AI Factory expansion progress updates — tangible execution metrics needed to restore confidence
- Power capacity updates — Finland deal and additional capacity announcements could signal growth confidence
- Industry sentiment — AI infrastructure demand trajectory (bullish macro context for sector)
Market Narrative Alignment
Technical vs. News Disconnect Analysis:
| Factor | Technical Signal | News Signal | Alignment | |--------|------------------|-------------|-----------| | Trend Direction | Bearish | Negative | ✓ ALIGNED | |
Generated
News
All APLD news →
Investments in AI are surging, but investors are concerned about the durability of the spending.
The Close brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Schroders Head of US Fixed Income Neil Sutherland, Applied Digital Founder & CEO Wes Cummins, Barclays Managing…
Applied Digital has extraordinary AI demand on paper. The harder question is whether its data centers can turn that demand into durable cash flow before financing costs reshape the economics.
Showing 1–10 of 35
Page 1 of 4
Earnings History
11 of 14 under expected move
Avg Expected Move
15.70%
Avg Actual Move
11.27%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2023-06-26 | After-Close | 22.09% | 19.75% | 0.89x | Within |
| 2023-10-10 | After-Close | 12.19% | 2.86% | 0.23x | Within |
| 2024-01-16 | After-Close | 9.22% | 7.23% | 0.78x | Within |
| 2024-04-11 | After-Close | 16.61% | 11.73% | 0.71x | Within |
| 2024-07-09 | After-Close | 11.88% | 7.13% | 0.60x | Within |
| 2024-10-09 | After-Close | 25.34% | 6.89% | 0.27x | Within |
| 2025-01-14 | After-Close | 18.85% | 1.99% | 0.11x | Within |
| 2025-04-14 | After-Close | 21.51% | 35.94% | 1.67x | Exceeded |
| 2025-07-30 | After-Close | 12.01% | 31.01% | 2.58x | Exceeded |
| 2025-10-09 | After-Close | 15.57% | 16.05% | 1.03x | Exceeded |
| 2026-01-07 | After-Close | 14.85% | 8.05% | 0.54x | Within |
| 2026-04-08 | After-Close | 13.80% | 7.99% | 0.58x | Within |
| 2026-07-27 | After-Close | 15.20% | 0.93% | 0.06x | Within |
| 2026-10-07 | After-Close | 10.71% | 0.17% | 0.02x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
APLD Options Activity & IV Rank
APLD IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 91.7%
7-DTE IV: 92.2%
Expected Move: $4.41
7-DTE Move: $2.42
Days to Exp: 30 (2026-11-20)
Options Flow
Call Volume: 7,602
Put Volume: 2,093
P/C Volume: 0.275
BULLISH
Call OI: 56,209
Put OI: 25,293
P/C OI: 0.45
Total OI: 81,502
ATM Options Pricing
ATM Call: $2.15
ATM Put: $2.26
Call %: 10.3%
Put %: 10.8%
Chain Summary
Chain Volume: 91,422
Chain OI: 883,604
Last Updated: 10/21/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 55th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
55%
vs own history
GEX tilt
+0.15
OI-weighted, today
Vanna tilt
+0.42
δ-sensitivity to IV
Charm tilt
-0.37
δ-decay vs time
Vanna tilt +0.42: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.37: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 138 ATM contracts, 169k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
as of Oct 21 · ATM 92.2% / Wing —
30 DTE / 10d
54%
+5.0
pts
EXTREME
as of Oct 21 · ATM 92.5% / Wing 97.5%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)33.0MediumOct 21
IV Rank (30 DTE)47.5MediumOct 21
Straddle Price (30 DTE)$4.41Oct 21
Beta Analysis
Risk Metrics
Beta: 4.4436
Alpha: -59.59%
Correlation: 0.5522
R-Squared: 30.5%
Stock Volatility: 102.2%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own APLD
6 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Point72 Hedge fund Steve Cohen | $128.2M | #130 of 1945 | +12.2% | 13F | |
| Citadel Hedge fund Ken Griffin | $51.2M | #675 of 6285 | +349.7% | 13F | |
| Millennium Management Hedge fund Izzy Englander | $41.2M | #712 of 3716 | +212.4% | 13F | |
| Tiger Global Hedge fund Chase Coleman | $33.0M | #37 of 46 | new | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $2.6M | #1261 of 4729 | +182.7% | 13F | |
| Third Point Activist Dan Loeb | $821K | #39 of 43 | new | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
APLD Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 284,110,934 (as of 2026-08-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
40 filers$1.91B notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $364.15M | 19.03% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $337.33M | 17.63% | 2026-06-30 |
| 3 | NOMURA HOLDINGS INC | $279.75M | 14.62% | 2026-06-30 |
| 4 | PEAK6 LLC | $279.56M | 14.61% | 2026-06-30 |
| 5 | Citadel Advisors LLC Custodian | $244.47M | 12.78% | 2026-06-30 |
| 6 | UBS Group AG Custodian | $65.31M | 3.41% | 2026-06-30 |
| 7 | Walleye Trading LLC | $55.82M | 2.92% | 2026-06-30 |
| 8 | Value Aligned Research Advisors, LLC | $39.07M | 2.04% | 2026-06-30 |
| 9 | D. E. Shaw & Co., Inc. Custodian | $37.57M | 1.96% | 2026-06-30 |
| 10 | Marex Group Ltd | $33.57M | 1.75% | 2026-06-30 |
| 11 | Caption Management, LLC | $24.99M | 1.31% | 2026-06-30 |
| 12 | Point72 Asset Management, L.P. | $24.61M | 1.29% | 2026-06-30 |
| 13 | Wolverine Trading, LLC Custodian | $22.28M | 1.16% | 2025-09-30 |
| 14 | Parallax Volatility Advisers, L.P. | $21.50M | 1.12% | 2026-06-30 |
| 15 | Arosa Capital Management LP | $20.14M | 1.05% | 2026-06-30 |
| 16 | Barclays PLC Custodian | $10.79M | 0.56% | 2026-06-30 |
| 17 | Millennium Management LLC Custodian | $7.47M | 0.39% | 2026-06-30 |
| 18 | Alphadyne Asset Management LP | $7.06M | 0.37% | 2026-06-30 |
| 19 | Allianz Asset Management GmbH | $5.97M | 0.31% | 2026-06-30 |
| 20 | TUDOR INVESTMENT CORP ET AL | $5.43M | 0.28% | 2026-06-30 |
| 21 | CAPITAL FUND MANAGEMENT S.A. | $3.60M | 0.19% | 2026-06-30 |
| 22 | Wells Fargo & Company Custodian | $3.36M | 0.18% | 2026-06-30 |
| 23 | Invesco Ltd. Custodian | $3.17M | 0.17% | 2026-06-30 |
| 24 | Cubist Systematic Strategies, LLC | $3.00M | 0.16% | 2025-09-30 |
| 25 | Squarepoint Ops LLC | $2.57M | 0.13% | 2026-06-30 |
31 filers$640.26M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Jane Street Group, LLC Custodian | $209.73M | 32.76% | 2026-06-30 |
| 2 | Susquehanna International Group, LLP Custodian | $134.30M | 20.98% | 2026-06-30 |
| 3 | Citadel Advisors LLC Custodian | $88.24M | 13.78% | 2026-06-30 |
| 4 | D. E. Shaw & Co., Inc. Custodian | $38.63M | 6.03% | 2026-06-30 |
| 5 | Walleye Trading LLC | $33.66M | 5.26% | 2026-06-30 |
| 6 | Point72 Asset Management, L.P. | $29.44M | 4.60% | 2026-06-30 |
| 7 | UBS Group AG Custodian | $28.24M | 4.41% | 2026-06-30 |
| 8 | Wolverine Trading, LLC Custodian | $12.68M | 1.98% | 2025-09-30 |
| 9 | Alphadyne Asset Management LP | $12.28M | 1.92% | 2026-06-30 |
| 10 | Parallax Volatility Advisers, L.P. | $10.74M | 1.68% | 2026-06-30 |
| 11 | Allianz Asset Management GmbH | $9.46M | 1.48% | 2026-06-30 |
| 12 | Caption Management, LLC | $5.95M | 0.93% | 2026-06-30 |
| 13 | Crawford Fund Management, LLC | $4.29M | 0.67% | 2026-06-30 |
| 14 | Cubist Systematic Strategies, LLC | $3.81M | 0.60% | 2025-09-30 |
| 15 | Squarepoint Ops LLC | $3.55M | 0.56% | 2026-06-30 |
| 16 | Twin Tree Management, LP | $3.05M | 0.48% | 2026-06-30 |
| 17 | CAPITAL FUND MANAGEMENT S.A. | $3.04M | 0.47% | 2026-06-30 |
| 18 | Walleye Capital LLC | $1.60M | 0.25% | 2026-06-30 |
| 19 | TUDOR INVESTMENT CORP ET AL | $1.42M | 0.22% | 2026-06-30 |
| 20 | Wells Fargo & Company Custodian | $1.21M | 0.19% | 2026-06-30 |
| 21 | CSS LLC/IL | $1.16M | 0.18% | 2026-06-30 |
| 22 | Balyasny Asset Management L.P. | $1.14M | 0.18% | 2026-06-30 |
| 23 | Sculptor Capital LP | $783.30K | 0.12% | 2026-06-30 |
| 24 | SIG BROKERAGE, LP | $488.63K | 0.08% | 2026-06-30 |
| 25 | PEAK6 LLC | $376.73K | 0.06% | 2026-06-30 |
APLD Insider Trading (Form 4)
Latest: 2026-10-19Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-10-19 | Jason Gechen Zhang | President | Buy (P) | +300,000 | $18.86 | $5.66M | EDGAR |
| 2026-10-19 | Wes Cummins | CEO; Chairman | Buy (P) | +55,803 | $18.04 | $1.01M | EDGAR |
| 2026-10-15 | Richard N Nottenburg | Director | Sell (S) | −31,250 | $21.84 | -$682.5K | EDGAR |
| 2026-10-13 | Wes Cummins | CEO; Chairman | Mixed | +60,650 | $23.68 | -$931.8K | EDGAR |
| 2026-10-05 | Mohammad Saidal LaVanway Mohmand | Chief Financial Officer | Mixed | +49,530 | $25.38 | -$815.6K | EDGAR |
| 2026-09-14 | Jason Gechen Zhang | President | Tax (F) | −49,188 | $26.42 | -$1.30M | EDGAR |
| 2026-08-06 | Richard N Nottenburg | Director | Sell (S) | −75,000 | $31.15 | -$2.34M | EDGAR |
| 2026-08-06 | Richard N Nottenburg | Director | Sell (S) | −75,000 | $31.15 | -$2.34M | EDGAR |
| 2026-08-04 | Laura Laltrello | Chief Operating Officer | Mixed | +339,360 | $27.39 | -$7.14M | EDGAR |
| 2026-08-04 | Mohammad Saidal LaVanway Mohmand | Chief Financial Officer | Mixed | +162,000 | $27.39 | -$2.64M | EDGAR |
| 2026-08-04 | Jason Gechen Zhang | President | Mixed | +363,900 | $27.39 | -$6.47M | EDGAR |
| 2026-08-04 | Wes Cummins | CEO; Chairman | Mixed | +255,715 | $27.39 | -$17.24M | EDGAR |
| 2026-07-07 | Laura Laltrello | Chief Operating Officer | Tax (F) | −43,440 | $33.50 | -$1.46M | EDGAR |
| 2026-07-02 | Jason Gechen Zhang | President | Mixed | +409,387 | $35.52 | -$9.43M | EDGAR |
| 2026-06-24 | Mohammad Saidal LaVanway Mohmand | Chief Financial Officer | Mixed | +297,185 | $45.20 | -$8.72M | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
APLD Insider Holdings
12 insiders · @ $20.98
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Wes Cummins | CEO; Chairman | 23,464,691 | $492.29M | -$7.43M | 65 | 2026-10-19 |
| 2 | Jason Gechen Zhang | President | 2,839,227 | $59.57M | $5.66M | 9 | 2026-10-19 |
| 3 | Laura Laltrello | Chief Operating Officer | 1,073,796 | $22.53M | $0 | 4 | 2026-08-04 |
| 4 | Mohammad Saidal LaVanway Mohmand | Chief Financial Officer | 937,961 | $19.68M | -$5.92M | 12 | 2026-10-05 |
| 5 | Chuck Hastings | Director | 388,372 | $8.15M | -$6.10M | 12 | 2026-01-30 |
| 6 | David Rench | Chief Administrative Officer | 385,288 | $8.08M | -$41.5K | 14 | 2024-12-12 |
| 7 | Kate Reed | Director | 341,510 | $7.16M | $0 | 4 | 2024-11-22 |
| 8 | Douglas S Miller | Director | 184,859 | $3.88M | -$1.37M | 13 | 2026-04-28 |
| 9 | Michael Maniscalco | Chief Technology Officer | 152,026 | $3.19M | $0 | 8 | 2025-02-06 |
| 10 | Richard N Nottenburg | Director | 102,128 | $2.14M | -$10.21M | 20 | 2026-10-15 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
APLD Board & Officers
As of SEC filings through Oct 19, 2026Directors 6
- Wes Cummins · since Feb 27, 2007
- Chuck Hastings · since Apr 12, 2022
- Douglas S Miller · since Apr 12, 2022
- Richard N Nottenburg · since Apr 12, 2022
- Rachel H. Lee · since Feb 22, 2024
- Ella G. Benson · since May 6, 2024
Officers 4
- Wes Cummins · CEO; Chairman · listed since Apr 2022
- Jason Gechen Zhang · President · listed since Feb 2026
- Mohammad Saidal LaVanway Mohmand · Chief Financial Officer · since Oct 15, 2024
- Laura Laltrello · Chief Operating Officer · since Jan 6, 2025
Changes in the last 10 years (27)
| Feb 9, 2026 | Jason Gechen Zhang listed as President (previously Chief Strategy Officer) in SEC filings |
| Nov 4, 2025 | Wes Cummins no longer listed as a 10% owner in SEC filings |
| Aug 12, 2025 | Jason Gechen Zhang first listed as Chief Strategy Officer in an SEC filing |
| Feb 6, 2025 | Michael Maniscalco reported in an SEC filing no longer being Chief Technology Officer |
| Jan 31, 2025 | The company announced the departure of David Rench as Chief Administrative Officer in an SEC filing |
| Jan 6, 2025 | Laura Laltrello became Chief Operating Officer |
| Nov 22, 2024 | Kate Reed reported in an SEC filing no longer being a director |
| Nov 19, 2024 | David Rench listed as Chief Administrative Officer (previously Chief Financial Officer) in SEC filings |
| Oct 15, 2024 | Mohammad Saidal LaVanway Mohmand became Chief Financial Officer |
| May 6, 2024 | Ella G. Benson became a director |
| Feb 23, 2024 | Kelli McDonald reported in an SEC filing no longer being a director |
| Feb 22, 2024 | Virginia Moore reported in an SEC filing no longer being a director |
| Feb 22, 2024 | Rachel H. Lee became a director |
| Nov 9, 2023 | Kate Reed became a director |
| Jul 5, 2023 | Michael Maniscalco became Chief Technology Officer |
| Nov 28, 2022 | Jason Gechen Zhang reported in an SEC filing no longer being a director |
| Aug 9, 2022 | Regina Ingel listed as CMO (previously EVP - Operations) in SEC filings |
| Apr 12, 2022 | Wes Cummins first listed as a 10% owner in an SEC filing |
| Apr 12, 2022 | Wes Cummins first listed as CEO; Chairman in an SEC filing |
| Apr 12, 2022 | Virginia Moore became a director |
| Apr 12, 2022 | Richard N Nottenburg became a director |
| Apr 12, 2022 | Regina Ingel became EVP - Operations |
| Apr 12, 2022 | Kelli McDonald became a director |
| Apr 12, 2022 | Jason Gechen Zhang became a director |
| Apr 12, 2022 | Douglas S Miller became a director |
| Apr 12, 2022 | David Rench became Chief Financial Officer |
| Apr 12, 2022 | Chuck Hastings became a director |
Not reported recently (1)
- Regina Ingel · Last reported as CMO in an SEC filing dated Apr 4, 2023
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
APLD Proposed Insider Sales (Form 144)
Latest: 2026-10-13
? Form 144 Guide
Last 30d:
1 filing
· $1.4M notice value
· Last 90d:
2 filings
· $3.7M notice value
· 1 unique filer
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
Top 90-day filers:
RICHARD N NOTTENBURG (2, $3.7M)
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-10-13 | RICHARD N NOTTENBURG | Director | 62,500 | $1.40M | 2026-10-13 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-08-04 | RICHARD N NOTTENBURG | Director | 75,000 | $2.34M | 2026-08-04 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-04-30 | RICHARD N NOTTENBURG | Director | 12,500 | $432.4K | 2026-04-30 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-04-28 | RICHARD N NOTTENBURG | Director | 12,500 | $400.0K | 2026-04-28 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-04-27 | DOUGLAS MILLER | Director | 10,000 | $349.8K | 2026-04-27 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-01-29 | HASTINGS CHUCK | Director | 100,000 | $3.88M | 2026-01-29 | Charles Schwab Corp | — | EDGAR |
| 2026-01-16 | WES CUMMINS | Officer, Director | 165,000 | $6.01M | 2026-01-16 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-01-15 | RICHARD N NOTTENBURG | Director | 12,000 | $425.4K | 2026-01-15 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-01-14 | RICHARD N NOTTENBURG | Director | 11,606 | $409.5K | 2026-01-14 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
| 2026-01-12 | DOUGLAS MILLER | Director | 10,000 | $385.4K | 2026-01-12 | Morgan Stanley Smith Barney LLC … | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
95 ETFs hold APLD
25 shown · $877.21M total exposure · 0.03% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.01% | $204.9M | — | 2026-09-30 |
| 2 | VB Vanguard Morningstar Small-Cap ETF | Vanguard | 0.08% | $143.8M | — | 2026-09-30 |
| 3 | VGT Vanguard Information Technology ETF | Vanguard | 0.05% | $93.0M | — | 2026-09-30 |
| 4 | VBK Vanguard Morningstar Small-Cap Growth ETF | Vanguard | 0.18% | $80.1M | — | 2026-09-30 |
| 5 | VXF Vanguard Extended Market ETF | Vanguard | 0.08% | $72.7M | — | 2026-09-30 |
| 6 | DTCR Global X Data Center & Digital Infrastructure ETF | Global X | 3.59% | $68.2M | — | 2026-10-21 |
| 7 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.25% | $56.5M | — | 2026-05-31 |
| 8 | IWR iShares Russell Mid-Cap ETF | iShares (BlackRock) | 0.04% | $21.1M | $57.3B | 2026-10-20 |
| 9 | BLOK Amplify Blockchain Technology ETF | Amplify | 2.00% | $18.9M | $944.9M | 2026-10-20 |
| 10 | SPRX Spear Alpha ETF | Nport | 3.85% | $11.2M | — | 2026-06-30 |
| 11 | IWD iShares Russell 1000 Value ETF | iShares (BlackRock) | 0.01% | $11.2M | $84.5B | 2026-10-20 |
| 12 | DAPP VanEck Digital Transformation ETF | VanEck | 4.09% | $10.3M | $261.8M | 2026-10-20 |
| 13 | WGMI Valkyrie Bitcoin Miners ETF | Nport | 2.94% | $10.1M | — | 2026-06-30 |
| 14 | FTEC Fidelity MSCI Information Technology Index ETF | Fidelity | 0.04% | $9.6M | $21.3B | 2026-10-20 |
| 15 | BKCH Global X Blockchain ETF | Global X | 3.83% | $8.1M | — | 2026-10-21 |
| 16 | IWS iShares Russell Mid-Cap Value ETF | iShares (BlackRock) | 0.05% | $7.7M | $15.6B | 2026-10-20 |
| 17 | SCHB Schwab U.S. Broad Market ETF | Nport | 0.02% | $7.0M | — | 2026-05-31 |
| 18 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.01% | $6.7M | $97.4B | 2026-10-20 |
| 19 | FDIG Fidelity Crypto Industry and Digital Payments ETF | Fidelity | 2.90% | $6.2M | $213.0M | 2026-10-20 |
| 20 | IYW iShares U.S. Technology ETF | iShares (BlackRock) | 0.03% | $6.2M | $25.0B | 2026-10-20 |
| 21 | VT Vanguard Total World Stock ETF | Vanguard | 0.01% | $5.5M | — | 2026-09-30 |
| 22 | JMOM JPMorgan U.S. Momentum Factor ETF | JPMorgan | 0.18% | $4.8M | $2.7B | 2026-10-21 |
| 23 | CEPI REX Crypto Equity Premium Income ETF | Nport | 4.30% | $4.7M | — | 2026-07-31 |
| 24 | BSJU Invesco BulletShares 2030 High Yield Corporate Bond ETF | Invesco | 1.46% | $4.6M | — | 2026-10-20 |
| 25 | STCE Schwab Crypto Thematic ETF | Nport | 1.54% | $4.1M | — | 2026-06-30 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-1.64
TTM Revenue
$853.85M
TTM Net Income
$-468.74M
TTM Op. Cash Flow
$235.63M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q1 '27 | 2026-08-31 | $341.88M | $-237.08M | $-0.82 | $63.92M |
| Q3 '26 | 2026-02-28 | $126.64M | $-100.86M | $-0.36 | $55.01M |
| Q2 '26 | 2025-11-30 | $126.59M | $-19.08M | $-0.07 | $-15.85M |
| Q1 '26 | 2025-08-31 | $80.93M | $-18.50M | $-0.07 | $-81.53M |
| Q4 '25 | 2025-05-31 | $-33.30M | $-53.94M | $-0.23 | $6.86M |
| Q3 '25 | 2025-02-28 | $52.92M | $-36.09M | $-0.16 | $5.90M |
| Q2 '25 | 2024-11-30 | $36.16M | $-139.35M | $-0.66 | $-52.26M |
| Q1 '25 | 2024-08-31 | $34.85M | $-4.29M | $-0.03 | $-75.89M |
| Q4 '24 | 2024-05-31 | $14.74M | $-64.45M | $-0.54 | $-31.54M |
| Q3 '24 | 2024-02-29 | $43.35M | $-62.84M | $-0.52 | $36.28M |
| Q2 '24 | 2023-11-30 | $42.20M | $-10.53M | $-0.10 | $4.54M |
| Q1 '24 | 2023-08-31 | $36.32M | $-11.46M | $-0.11 | $4.52M |
Q1 2027 • period ending 2026-08-31 • filed 2026-10-07
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
3.71
P/S
6.98
EV/EBITDA
—
EV/Sales
10.87
ROE
-29.1%
ROA
-4.0%
Div Yield
0.11%
FCF Yield
3.95%
Debt/Equity
3.90
Current Ratio
—
Market Cap
$5.96B
as of 2026-10-21
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
56.63M
SI % of Float
21.00%
Days to Cover
3.40
Short Vol Ratio
62.8%
Free Float
269.73M
Float %
90.2%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-09-16