425,000 Shares in Applied Digital Co. (NASDAQ:APLD) Bought by Thomist Capital Management LP

Thomist Capital Management LP bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 425,000 shares of the company’s stock, valued at approximately $2,529,000. Applied Digital comprises about 0.9% of Thomist Capital Management LP’s holdings, making the stock its 18th biggest position. Thomist Capital Management LP owned 0.31% of Applied Digital at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. L & S Advisors Inc bought a new position in Applied Digital in the second quarter worth approximately $122,000. ICA Group Wealth Management LLC increased its position in Applied Digital by 56.8% during the 2nd quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company’s stock valued at $112,000 after buying an additional 6,795 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Applied Digital by 381.8% in the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after purchasing an additional 6,933 shares during the last quarter. Crumly & Associates Inc. acquired a new stake in shares of Applied Digital during the second quarter worth $110,000. Finally, Rhumbline Advisers lifted its position in Applied Digital by 30.0% during the 2nd quarter. Rhumbline Advisers now owns 140,087 shares of the company’s stock worth $834,000 after acquiring an additional 32,336 shares during the period. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Up 4.5 %

Shares of APLD opened at $6.07 on Thursday. The stock has a market capitalization of $832.86 million, a PE ratio of -7.68 and a beta of 4.51. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08. The company’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $4.42.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. The company had revenue of $43.70 million during the quarter, compared to analyst estimates of $42.70 million. During the same period in the prior year, the business earned ($0.07) EPS. Analysts forecast that Applied Digital Co. will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total transaction of $55,000.00. Following the completion of the sale, 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 SEC, which is available through the SEC website. Insiders own 20.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. B. Riley upped their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, September 13th. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research report on Thursday, September 5th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Applied Digital in a research note on Thursday, August 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Applied Digital in a report on Monday, September 9th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $8.40.

Applied Digital Company Profile

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.