12,121 Shares in Applied Digital Corporation (NASDAQ:APLD) Bought by HB Wealth Management LLC

HB Wealth Management LLC purchased a new stake in Applied Digital Corporation (NASDAQ:APLD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,121 shares of the company’s stock, valued at approximately $68,000.

A number of other institutional investors also recently bought and sold shares of the business. Wedbush Securities Inc. increased its holdings in shares of Applied Digital by 14.8% in the 1st quarter. Wedbush Securities Inc. now owns 15,500 shares of the company’s stock valued at $87,000 after acquiring an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Applied Digital by 29.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,778 shares of the company’s stock valued at $77,000 after purchasing an additional 3,127 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Applied Digital by 13.3% in the first quarter. SBI Securities Co. Ltd. now owns 30,581 shares of the company’s stock valued at $172,000 after purchasing an additional 3,593 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in Applied Digital by 5.4% during the first quarter. SeaCrest Wealth Management LLC now owns 80,847 shares of the company’s stock worth $454,000 after purchasing an additional 4,107 shares in the last quarter. Finally, Smith Moore & CO. raised its holdings in Applied Digital by 13.8% during the fourth quarter. Smith Moore & CO. now owns 37,000 shares of the company’s stock worth $283,000 after purchasing an additional 4,500 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the transaction, the director directly owned 83,613 shares of the company’s stock, valued at approximately $585,291. The trade was a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.81% of the stock is currently owned by corporate insiders.

Applied Digital Stock Performance

NASDAQ APLD opened at $12.52 on Monday. The firm has a market cap of $3.27 billion, a P/E ratio of -11.49 and a beta of 6.17. Applied Digital Corporation has a 52-week low of $3.01 and a 52-week high of $15.42. The business’s 50-day moving average price is $10.49 and its 200 day moving average price is $8.00. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.36.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $38.01 million for the quarter, compared to the consensus estimate of $42.86 million. Applied Digital had a negative return on equity of 50.03% and a negative net margin of 107.22%. The company’s revenue was up 41.3% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. On average, equities research analysts expect that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating on shares of Applied Digital in a report on Monday, June 2nd. Needham & Company LLC upped their price objective on shares of Applied Digital from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities raised their price objective on Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 3rd. Lake Street Capital lifted their target price on Applied Digital from $14.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, B. Riley upped their target price on Applied Digital from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Applied Digital presently has a consensus rating of “Buy” and an average price target of $14.18.

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.