Lisanti Capital Growth LLC Has $866,000 Holdings in Applied Digital Corporation $APLD

Lisanti Capital Growth LLC cut its stake in Applied Digital Corporation (NASDAQ:APLD) by 78.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,735 shares of the company’s stock after selling 134,630 shares during the period. Lisanti Capital Growth LLC’s holdings in Applied Digital were worth $866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Voya Investment Management LLC raised its stake in shares of Applied Digital by 403.4% in the 3rd quarter. Voya Investment Management LLC now owns 1,464,909 shares of the company’s stock valued at $33,605,000 after buying an additional 1,173,929 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of Applied Digital by 27.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 41,500 shares of the company’s stock valued at $418,000 after acquiring an additional 9,000 shares in the last quarter. Kovack Advisors Inc. bought a new stake in Applied Digital in the second quarter valued at about $116,000. Two Seas Capital LP bought a new stake in Applied Digital in the second quarter valued at about $5,035,000. Finally, Nisa Investment Advisors LLC raised its position in Applied Digital by 371.1% in the third quarter. Nisa Investment Advisors LLC now owns 56,629 shares of the company’s stock worth $1,299,000 after purchasing an additional 44,608 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Down 11.0%

NASDAQ APLD opened at $33.88 on Friday. The stock’s 50 day simple moving average is $30.33 and its 200 day simple moving average is $24.56. Applied Digital Corporation has a one year low of $3.31 and a one year high of $42.27. The firm has a market cap of $9.47 billion, a PE ratio of -62.74 and a beta of 6.89. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, January 7th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $126.59 million during the quarter, compared to analyst estimates of $82.22 million. Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.Applied Digital’s revenue for the quarter was up 250.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) EPS. As a group, sell-side analysts forecast that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $35.45, for a total transaction of $425,400.00. Following the sale, the director owned 233,378 shares of the company’s stock, valued at $8,273,250.10. This represents a 4.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $38.54, for a total transaction of $385,400.00. Following the completion of the sale, the director owned 200,859 shares of the company’s stock, valued at $7,741,105.86. The trade was a 4.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 244,593 shares of company stock worth $9,003,278 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APLD. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a report on Wednesday. Wall Street Zen raised Applied Digital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Roth Mkm upped their price target on Applied Digital to $58.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Northland Securities set a $56.00 price objective on Applied Digital in a research note on Wednesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Applied Digital currently has an average rating of “Buy” and an average target price of $34.73.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.