Applied Digital Co. (NASDAQ:APLD) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC lifted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 159.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,700 shares of the company’s stock after acquiring an additional 23,800 shares during the period. Private Advisor Group LLC’s holdings in Applied Digital were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in APLD. Headlands Technologies LLC grew its stake in Applied Digital by 381.8% during the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock worth $52,000 after buying an additional 6,933 shares during the last quarter. ARS Investment Partners LLC acquired a new position in Applied Digital during the second quarter worth about $60,000. Price T Rowe Associates Inc. MD grew its holdings in Applied Digital by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock worth $103,000 after acquiring an additional 3,182 shares during the period. Crumly & Associates Inc. acquired a new position in Applied Digital during the second quarter worth about $110,000. Finally, ICA Group Wealth Management LLC grew its holdings in Applied Digital by 56.8% during the second quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company’s stock worth $112,000 after acquiring an additional 6,795 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Stock Up 11.0 %

Shares of Applied Digital stock opened at $7.07 on Thursday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -6.04 and a beta of 4.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $9.48. The stock has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $5.35.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.13. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $54.85 million. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. The firm’s revenue was up 67.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.10) EPS. On average, equities research analysts expect that Applied Digital Co. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $55,000.00. Following the transaction, the director now directly owns 218,506 shares of the company’s stock, valued at approximately $1,201,783. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard N. Nottenburg sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $7.37, for a total value of $589,600.00. Following the transaction, the director now directly owns 433,686 shares of the company’s stock, valued at approximately $3,196,265.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 218,506 shares in the company, valued at $1,201,783. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 100,000 shares of company stock worth $724,700 in the last three months. 11.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on APLD shares. Craig Hallum increased their price target on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a research report on Thursday, October 10th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a research report on Friday, November 1st. HC Wainwright raised their price objective on Applied Digital from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Lake Street Capital raised their price objective on Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $10.50.

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.