Commonwealth Equity Services LLC Has $397,000 Stock Position in Applied Digital Co. (NASDAQ:APLD)

Commonwealth Equity Services LLC increased its holdings in Applied Digital Co. (NASDAQ:APLD) by 115.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,688 shares of the company’s stock after purchasing an additional 35,768 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Applied Digital were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APLD. Principal Financial Group Inc. acquired a new position in Applied Digital during the 1st quarter worth about $50,000. ARS Investment Partners LLC bought a new position in shares of Applied Digital during the second quarter worth about $60,000. Capstone Investment Advisors LLC acquired a new position in shares of Applied Digital in the fourth quarter worth approximately $78,000. ICA Group Wealth Management LLC bought a new stake in Applied Digital in the fourth quarter valued at approximately $81,000. Finally, Chesapeake Capital Corp IL acquired a new stake in Applied Digital during the 4th quarter valued at approximately $86,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on APLD shares. 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 report on Friday, September 13th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Applied Digital in a report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, September 9th. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Thursday, September 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $8.40.

Applied Digital Stock Up 8.3 %

Applied Digital stock opened at $6.02 on Monday. The company has a market capitalization of $826.00 million, a PE ratio of -7.62 and a beta of 4.51. Applied Digital Co. has a 12-month low of $2.36 and a 12-month high of $8.65. The firm’s fifty day moving average is $4.79 and its 200 day moving average is $4.45. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.14.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.29). The company had revenue of $43.70 million for the quarter, compared to analyst estimates of $42.70 million. Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, sell-side analysts predict that Applied Digital Co. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 $1,201,783. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.50% of the stock is owned by company 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.