SG Americas Securities LLC raised its stake in shares of Applied Digital Co. (NASDAQ:APLD – Free Report) by 414.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265,792 shares of the company’s stock after purchasing an additional 214,133 shares during the period. SG Americas Securities LLC’s holdings in Applied Digital were worth $2,031,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of APLD. Marshall Wace LLP bought a new position in Applied Digital during the 2nd quarter worth $720,000. The Manufacturers Life Insurance Company raised its position in Applied Digital by 25.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,641 shares of the company’s stock worth $224,000 after purchasing an additional 7,517 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in Applied Digital by 66.1% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 774,655 shares of the company’s stock worth $4,609,000 after purchasing an additional 308,223 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Applied Digital during the 2nd quarter worth $1,451,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Applied Digital by 4.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 728,424 shares of the company’s stock worth $6,009,000 after acquiring an additional 34,166 shares in the last quarter. 65.67% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Craig Hallum lifted their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a research report on Wednesday, January 15th. Cantor Fitzgerald lowered their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Thursday, October 10th. Finally, Lake Street Capital lifted their price objective on Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.29.
Applied Digital Trading Down 3.3 %
NASDAQ:APLD opened at $8.96 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $2.00 billion, a PE ratio of -5.18 and a beta of 4.78. The firm’s 50 day moving average is $9.01 and its 200 day moving average is $7.09. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.25.
Applied Digital (NASDAQ:APLD – Get Free Report) last posted its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $63.87 million for the quarter, compared to analysts’ expectations of $62.41 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. Applied Digital’s revenue was up 51.3% on a year-over-year basis. Sell-side analysts expect that Applied Digital Co. will post -0.8 earnings per share for the current year.
Insider Buying and Selling at Applied Digital
In other Applied Digital news, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the sale, the chief executive officer now owns 3,875,955 shares of the company’s stock, valued at $35,658,786. The trade was a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Nottenburg sold 19,369 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $7.51, for a total transaction of $145,461.19. Following the transaction, the director now owns 384,317 shares of the company’s stock, valued at $2,886,220.67. This trade represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 289,369 shares of company stock valued at $2,622,461 in the last 90 days. 11.81% of the stock is currently 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.
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