Xponance Inc. Takes $106,000 Position in Applied Digital Co. (NASDAQ:APLD)

Xponance Inc. bought a new stake in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,882 shares of the company’s stock, valued at approximately $106,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC lifted its stake in shares of Applied Digital by 304.5% in the 4th quarter. Intech Investment Management LLC now owns 56,612 shares of the company’s stock worth $433,000 after purchasing an additional 42,616 shares during the period. Evoke Wealth LLC bought a new position in Applied Digital in the fourth quarter worth approximately $183,000. Cibc World Markets Corp purchased a new position in shares of Applied Digital during the 4th quarter worth $137,000. Commonwealth Equity Services LLC grew its position in shares of Applied Digital by 55.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 106,270 shares of the company’s stock valued at $812,000 after acquiring an additional 37,742 shares during the period. Finally, Swiss National Bank increased its stake in shares of Applied Digital by 29.1% in the 4th quarter. Swiss National Bank now owns 338,800 shares of the company’s stock worth $2,588,000 after purchasing an additional 76,300 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cantor Fitzgerald cut 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. Compass Point began coverage on Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. HC Wainwright boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, Northland Securities upped their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock 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 presently has an average rating of “Buy” and a consensus price target of $12.11.

Applied Digital Stock Performance

Applied Digital stock opened at $5.72 on Friday. 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 company’s 50-day moving average price is $7.76 and its 200-day moving average price is $8.00. The company has a market cap of $1.28 billion, a PE ratio of -3.31 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, equities research analysts forecast that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business’s 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 completion of the transaction, the director now owns 342,923 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this link. 11.81% of the stock is owned by insiders.

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.