Atria Wealth Solutions Inc. Makes New $149,000 Investment in Applied Digital Co. (NASDAQ:APLD)

Atria Wealth Solutions Inc. acquired a new stake in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,493 shares of the company’s stock, valued at approximately $149,000.

A number of other hedge funds have also modified their holdings of APLD. Principal Financial Group Inc. boosted its position in Applied Digital by 44.2% in the fourth quarter. Principal Financial Group Inc. now owns 14,542 shares of the company’s stock valued at $111,000 after buying an additional 4,459 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Applied Digital by 68.7% in the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock valued at $1,978,000 after acquiring an additional 105,428 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Applied Digital by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company’s stock valued at $128,000 after acquiring an additional 1,500 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Applied Digital by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock worth $33,649,000 after acquiring an additional 2,344,572 shares during the period. Finally, Entropy Technologies LP purchased a new position in shares of Applied Digital during the fourth quarter worth $403,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the sale, the director now directly owns 342,923 shares of the company’s stock, valued at $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 11.81% of the stock is owned by company insiders.

Applied Digital Stock Up 2.0 %

Shares of APLD opened at $7.99 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.78 billion, a P/E ratio of -4.62 and a beta of 4.77. The stock’s 50 day moving average is $8.41 and its two-hundred day moving average is $7.67. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $12.48.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $63.87 million for the quarter, compared to analysts’ expectations of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. Analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on APLD. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Compass Point began coverage on Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright raised their target price on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Cantor Fitzgerald decreased their price target on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Finally, Northland Securities upped their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital has an average rating of “Buy” and an average target price of $12.11.

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.