Wealth Enhancement Advisory Services LLC Buys Shares of 10,651 Applied Digital Co. (NASDAQ:APLD)

Wealth Enhancement Advisory Services LLC bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,651 shares of the company’s stock, valued at approximately $88,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in APLD. Private Advisor Group LLC raised its stake in Applied Digital by 159.7% during the 3rd quarter. Private Advisor Group LLC now owns 38,700 shares of the company’s stock worth $319,000 after acquiring an additional 23,800 shares during the period. Jade Capital Advisors LLC bought a new stake in shares of Applied Digital during the third quarter valued at approximately $236,000. Exchange Traded Concepts LLC raised its position in shares of Applied Digital by 4.9% during the third quarter. Exchange Traded Concepts LLC now owns 728,424 shares of the company’s stock valued at $6,009,000 after buying an additional 34,166 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Applied Digital during the third quarter valued at approximately $426,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Applied Digital during the second quarter valued at approximately $1,451,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 80,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the transaction, the director now directly owns 433,686 shares in the company, valued at approximately $3,196,265.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Richard N. Nottenburg sold 80,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $7.37, for a total transaction of $589,600.00. Following the sale, the director now owns 433,686 shares in the company, valued at approximately $3,196,265.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $8.01, for a total value of $80,100.00. Following the sale, the director now owns 208,506 shares in the company, valued at $1,670,133.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,369 shares of company stock worth $870,161 over the last three months. 11.81% of the stock is owned by corporate insiders.

Applied Digital Stock Down 5.5 %

Shares of APLD opened at $7.17 on Thursday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -6.13 and a beta of 4.65. Applied Digital Co. has a 12-month low of $2.36 and a 12-month high of $9.48. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $7.13 and a 200-day moving average price of $5.50.

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

Applied Digital 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.