Private Advisor Group LLC Grows Position in Applied Digital Co. (NASDAQ:APLD)

Private Advisor Group LLC boosted its stake in Applied Digital Co. (NASDAQ:APLD) by 50.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,055 shares of the company’s stock after buying an additional 19,355 shares during the quarter. Private Advisor Group LLC’s holdings in Applied Digital were worth $444,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its position in shares of Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd bought a new position in shares of Applied Digital during the 4th quarter worth $36,000. Spire Wealth Management bought a new position in shares of Applied Digital during the 4th quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Applied Digital during the 3rd quarter worth $59,000. Finally, KBC Group NV bought a new position in shares of Applied Digital during the 4th quarter worth $55,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Trading Down 14.0 %

NASDAQ APLD opened at $6.88 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $12.48. The firm has a market capitalization of $1.53 billion, a PE ratio of -3.98 and a beta of 4.77. The stock’s 50 day moving average is $8.39 and its 200 day moving average is $7.69.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the sale, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.81% of the company’s stock.

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.