Applied Digital Sees Unusually High Options Volume (NASDAQ:APLD)

Applied Digital Co. (NASDAQ:APLD) was the recipient of unusually large options trading activity on Thursday. Investors purchased 32,248 call options on the company. This is an increase of 72% compared to the average volume of 18,711 call options.

Insider Transactions at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction 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 directly owns 218,506 shares in the company, valued at approximately $1,201,783. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Applied Digital

A number of large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new stake in shares of Applied Digital in the 1st quarter worth approximately $50,000. Headlands Technologies LLC boosted its holdings in Applied Digital by 381.8% in the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after acquiring an additional 6,933 shares in the last quarter. ARS Investment Partners LLC purchased a new position in Applied Digital during the 2nd quarter valued at $60,000. Capstone Investment Advisors LLC bought a new position in Applied Digital in the 4th quarter worth $78,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Applied Digital in the 4th quarter worth about $81,000. Institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Down 2.0 %

Shares of NASDAQ APLD traded down $0.16 during midday trading on Thursday, reaching $8.03. The company had a trading volume of 7,200,945 shares, compared to its average volume of 6,448,821. The stock has a market cap of $1.10 billion, a PE ratio of -10.37 and a beta of 4.51. Applied Digital has a one year low of $2.36 and a one year high of $8.78. The firm’s fifty day moving average price is $5.12 and its 200-day moving average price is $4.64. 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 released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.52) earnings per share 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 company had revenue of $43.70 million for the quarter, compared to analysts’ expectations of $42.70 million. During the same period last year, the company posted ($0.07) EPS. On average, equities research analysts anticipate that Applied Digital will post -1.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on APLD. 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 note on Friday, September 13th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research note on Thursday, September 5th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Applied Digital in a research report on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, September 9th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $8.40.

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.