MRP Capital Investments LLC Grows Position in Applied Digital Co. (NASDAQ:APLD)

MRP Capital Investments LLC raised its holdings in Applied Digital Co. (NASDAQ:APLD) by 91.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,875 shares of the company’s stock after acquiring an additional 57,350 shares during the quarter. MRP Capital Investments LLC owned 0.09% of Applied Digital worth $713,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in APLD. Hood River Capital Management LLC grew its position in Applied Digital by 2.8% during the first quarter. Hood River Capital Management LLC now owns 8,824,532 shares of the company’s stock worth $37,769,000 after buying an additional 240,177 shares during the period. Capital Research Global Investors increased its holdings in Applied Digital by 427.2% during the 4th quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock valued at $49,453,000 after acquiring an additional 5,945,559 shares in the last quarter. Vanguard Group Inc. raised its position in Applied Digital by 70.2% during the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock worth $26,434,000 after acquiring an additional 2,547,485 shares during the last quarter. Oasis Management Co Ltd. lifted its holdings in shares of Applied Digital by 23.6% in the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock valued at $33,216,000 after purchasing an additional 940,075 shares in the last quarter. Finally, Equitec Proprietary Markets LLC grew its position in shares of Applied Digital by 1.4% in the first quarter. Equitec Proprietary Markets LLC now owns 4,228,125 shares of the company’s stock valued at $18,096,000 after purchasing an additional 59,468 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Applied Digital Stock Performance

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

Applied Digital (NASDAQ:APLD) last released 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 firm had revenue of $43.70 million during the quarter, compared to analyst estimates of $42.70 million. Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, research analysts predict that Applied Digital Co. will post -1.02 earnings per share for the current year.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the firm’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 approximately $1,201,783. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 20.50% of the company’s stock.

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.