Jones Financial Companies Lllp Invests $39,000 in Applied Digital Co. (NASDAQ:APLD)

Jones Financial Companies Lllp acquired a new position in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,094 shares of the company’s stock, valued at approximately $39,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Applied Digital by 36.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock worth $7,419,000 after purchasing an additional 240,554 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Applied Digital in the 3rd quarter worth about $545,000. Rhumbline Advisers raised 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 worth $1,978,000 after purchasing an additional 105,428 shares during the period. Exchange Traded Concepts LLC raised its holdings 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 worth $7,656,000 after purchasing an additional 273,666 shares during the period. Finally, Barclays PLC raised its holdings in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after purchasing an additional 428,428 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $7.01 on Wednesday. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The business has a 50 day moving average price of $8.01 and a two-hundred day moving average price of $7.90. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market cap of $1.56 billion, a PE ratio of -4.05 and a beta of 4.69.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. During the same quarter last year, the firm earned ($0.05) EPS. Applied Digital’s quarterly revenue was up 51.3% on a year-over-year basis. Sell-side analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Applied Digital 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 transaction of $177,000.00. Following the transaction, the director now owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 11.81% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on APLD shares. Compass Point started coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Cantor Fitzgerald lowered their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. 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 note on Tuesday, February 4th. Finally, HC Wainwright increased their target price on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital has a consensus rating of “Buy” and an average price target of $12.11.

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.