Rhumbline Advisers Purchases 105,428 Shares of Applied Digital Co. (NASDAQ:APLD)

Rhumbline Advisers boosted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 68.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 258,892 shares of the company’s stock after purchasing an additional 105,428 shares during the quarter. Rhumbline Advisers owned about 0.12% of Applied Digital worth $1,978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in Applied Digital by 36.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Applied Digital during the 3rd quarter worth approximately $545,000. Exchange Traded Concepts LLC grew its position in shares of Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after acquiring an additional 273,666 shares during the period. Barclays PLC raised its stake in Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after buying an additional 428,428 shares during the period. Finally, SG Americas Securities LLC boosted its position in Applied Digital by 414.5% during the fourth quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock worth $2,031,000 after purchasing an additional 214,133 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Down 14.0 %

NASDAQ:APLD opened at $6.88 on Tuesday. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $12.48. The firm’s fifty day moving average is $8.39 and its 200-day moving average is $7.69. The firm has a market cap of $1.53 billion, a P/E ratio of -3.98 and a beta of 4.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data 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. The company had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. Applied Digital’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) EPS. Equities analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 20,000 shares of the 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 completion of the sale, the director now directly owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.81% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

APLD has been the topic of several research analyst reports. Compass Point started coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. HC Wainwright boosted 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 Wednesday, January 15th. Cantor Fitzgerald decreased their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Northland Securities increased their target price 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, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.11.

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.