Applied Digital Corporation (NASDAQ:APLD) Shares Purchased by Private Advisor Group LLC

Private Advisor Group LLC increased its stake in Applied Digital Corporation (NASDAQ:APLD) by 23.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 71,690 shares of the company’s stock after purchasing an additional 13,635 shares during the quarter. Private Advisor Group LLC’s holdings in Applied Digital were worth $403,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of APLD. CWM LLC lifted its position in shares of Applied Digital by 116.5% during the first quarter. CWM LLC now owns 9,506 shares of the company’s stock worth $53,000 after purchasing an additional 5,116 shares in the last quarter. Lbmc Investment Advisors LLC acquired a new position in Applied Digital in the 1st quarter worth $67,000. Mayfair Advisory Group LLC purchased a new position in Applied Digital in the 1st quarter valued at about $68,000. NewEdge Advisors LLC grew its stake in shares of Applied Digital by 143.1% during the fourth quarter. NewEdge Advisors LLC now owns 9,810 shares of the company’s stock valued at $75,000 after acquiring an additional 5,775 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of Applied Digital during the first quarter worth about $76,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Trading Down 0.9%

Shares of NASDAQ APLD opened at $10.03 on Thursday. Applied Digital Corporation has a 12-month low of $3.01 and a 12-month high of $15.42. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -7.32 and a beta of 6.04. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56. The stock’s 50 day simple moving average is $10.27 and its 200 day simple moving average is $7.94.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. The company had revenue of $38.01 million during the quarter, compared to the consensus estimate of $42.86 million. Applied Digital had a negative net margin of 109.99% and a negative return on equity of 77.49%. The company’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) earnings per share. Equities research analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on APLD shares. Citizens Jmp upgraded Applied Digital to a “strong-buy” rating and set a $12.00 price objective on the stock in a report on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a research note on Monday, June 2nd. JMP Securities upped their price target on shares of Applied Digital from $12.00 to $18.00 and gave the company a “market outperform” rating in a report on Tuesday, June 3rd. Craig Hallum raised their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Finally, Compass Point upgraded shares of Applied Digital from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Friday, July 25th. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $12.73.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the firm’s stock in a transaction that occurred 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 sale, the director owned 83,613 shares in the company, valued at approximately $585,291. This trade represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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.