SG Americas Securities LLC Purchases Shares of 51,659 Applied Digital Co. (NASDAQ:APLD)

SG Americas Securities LLC purchased a new stake in Applied Digital Co. (NASDAQ:APLD) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 51,659 shares of the company’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. acquired a new position in shares of Applied Digital during the first quarter worth approximately $50,000. Headlands Technologies LLC lifted its position in shares of Applied Digital by 381.8% during the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock worth $52,000 after purchasing an additional 6,933 shares in the last quarter. ARS Investment Partners LLC acquired a new position in shares of Applied Digital during the second quarter worth approximately $60,000. Price T Rowe Associates Inc. MD lifted its position in shares of Applied Digital by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock worth $103,000 after purchasing an additional 3,182 shares in the last quarter. Finally, Crumly & Associates Inc. acquired a new position in shares of Applied Digital during the second quarter worth approximately $110,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on APLD shares. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research report on Thursday. Craig Hallum upped their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. B. Riley boosted their price target on shares of Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Lake Street Capital boosted their price target on shares of Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research note on Thursday, October 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.50.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total value of $55,000.00. Following the completion of the sale, the director now owns 218,506 shares of the company’s stock, valued at approximately $1,201,783. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard N. Nottenburg sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the transaction, the director now owns 433,686 shares in the company, valued at $3,196,265.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $5.50, for a total transaction of $55,000.00. Following the completion of the transaction, the director now owns 218,506 shares of the company’s stock, valued at $1,201,783. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 20.50% of the company’s stock.

Applied Digital Trading Down 1.2 %

APLD opened at $7.95 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -10.06 and a beta of 4.56. The firm has a 50 day simple moving average of $5.84 and a 200 day simple moving average of $4.88. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $8.78.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, October 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.13. Applied Digital had a negative net margin of 74.95% and a negative return on equity of 107.05%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $54.85 million. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The business’s quarterly revenue was up 67.2% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Digital Co. will post -1.12 earnings per share for the current year.

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.