Applied Digital Co. (NASDAQ:APLD) Stock Position Increased by Hood River Capital Management LLC

Hood River Capital Management LLC boosted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,596,231 shares of the company’s stock after buying an additional 771,699 shares during the quarter. Applied Digital accounts for approximately 1.2% of Hood River Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Hood River Capital Management LLC owned approximately 6.99% of Applied Digital worth $57,098,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of APLD. Woodmont Investment Counsel LLC boosted its position in shares of Applied Digital by 4.2% during the 1st quarter. Woodmont Investment Counsel LLC now owns 250,319 shares of the company’s stock valued at $1,071,000 after purchasing an additional 10,149 shares in the last quarter. Jump Financial LLC bought a new stake in Applied Digital during the fourth quarter worth approximately $107,000. Vanguard Group Inc. grew its position in Applied Digital by 70.2% in the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock worth $26,434,000 after buying an additional 2,547,485 shares during the last quarter. Register Financial Advisors LLC increased its holdings in shares of Applied Digital by 74.0% in the first quarter. Register Financial Advisors LLC now owns 323,400 shares of the company’s stock valued at $1,384,000 after buying an additional 137,500 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Applied Digital by 23.2% in the first quarter. Swiss National Bank now owns 180,600 shares of the company’s stock valued at $773,000 after buying an additional 34,000 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Digital

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

Applied Digital Stock Up 8.3 %

Shares of Applied Digital stock opened at $6.02 on Monday. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $8.65. The company has a market cap of $826.00 million, a P/E ratio of -7.62 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 stock has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.45.

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

Analyst Upgrades and Downgrades

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