Headlands Technologies LLC Raises Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

Headlands Technologies LLC boosted its position in Applied Digital Co. (NASDAQ:APLD) by 381.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,749 shares of the company’s stock after acquiring an additional 6,933 shares during the quarter. Headlands Technologies LLC’s holdings in Applied Digital were worth $52,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors increased its holdings in shares of Applied Digital by 427.2% in the fourth quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock worth $49,453,000 after buying an additional 5,945,559 shares during the period. Vanguard Group Inc. raised its stake in Applied Digital by 70.2% during the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock valued at $26,434,000 after buying an additional 2,547,485 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Applied Digital by 92.1% in the 1st quarter. Van ECK Associates Corp now owns 2,426,281 shares of the company’s stock worth $10,384,000 after purchasing an additional 1,163,247 shares during the last quarter. Oasis Management Co Ltd. raised its holdings in Applied Digital by 23.6% in the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock worth $33,216,000 after buying an additional 940,075 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Applied Digital by 69.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,311,594 shares of the company’s stock worth $5,614,000 after acquiring an additional 536,948 shares during the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

Applied Digital stock opened at $5.89 on Tuesday. The company’s 50-day moving average price is $4.79 and its 200-day moving average price is $4.40. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.14. The company has a market cap of $808.16 million, a PE ratio of -7.46 and a beta of 4.51. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $8.65.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Wednesday, August 28th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.29). The company had revenue of $43.70 million for the quarter, compared to the consensus estimate of $42.70 million. Applied Digital had a negative return on equity of 111.80% and a negative net margin of 88.95%. During the same period in the previous year, the firm earned ($0.07) earnings per share. On average, equities research analysts forecast that Applied Digital Co. will post -1.02 EPS for the current fiscal year.

Insider Activity at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total transaction of $55,000.00. Following the transaction, the director now owns 218,506 shares in the company, valued at $1,201,783. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 20.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on APLD. B. Riley increased their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Applied Digital in a report on Monday, September 9th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Thursday, September 5th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Applied Digital in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital presently has a consensus rating of “Buy” and an average price target of $8.40.

About Applied Digital

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.