272 Capital LP Has $9.71 Million Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

272 Capital LP lessened its holdings in Applied Digital Co. (NASDAQ:APLD) by 19.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,631,453 shares of the company’s stock after selling 404,233 shares during the period. Applied Digital accounts for 4.9% of 272 Capital LP’s holdings, making the stock its 4th biggest position. 272 Capital LP’s holdings in Applied Digital were worth $9,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in shares of Applied Digital by 427.2% during the 4th quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock worth $49,453,000 after buying an additional 5,945,559 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Applied Digital by 70.2% in the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock valued at $26,434,000 after purchasing an additional 2,547,485 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Applied Digital by 92.1% during the 1st quarter. Van ECK Associates Corp now owns 2,426,281 shares of the company’s stock worth $10,384,000 after purchasing an additional 1,163,247 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Applied Digital by 8.7% during the 2nd quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company’s stock worth $57,098,000 after purchasing an additional 771,699 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Applied Digital by 69.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,311,594 shares of the company’s stock valued at $5,614,000 after purchasing an additional 536,948 shares during the period. 65.67% of the stock is owned by institutional investors.

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 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 in the company, valued at approximately $1,201,783. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 20.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Applied Digital in a report on Monday, September 9th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Thursday, September 5th. B. Riley increased their target price 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of Applied Digital in a research note on Thursday, August 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $8.40.

Applied Digital Trading Up 11.3 %

Shares of Applied Digital stock opened at $6.70 on Tuesday. The firm has a market capitalization of $919.30 million, a PE ratio of -8.48 and a beta of 4.51. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.14. The firm’s 50 day moving average is $4.79 and its 200 day moving average is $4.47. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $8.65.

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