Arete Wealth Advisors LLC Invests $3.76 Million in Applied Digital Co. (NASDAQ:APLD)

Arete Wealth Advisors LLC purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 490,947 shares of the company's stock, valued at approximately $3,757,000. Arete Wealth Advisors LLC owned 0.22% of Applied Digital as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its holdings in shares of Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after acquiring an additional 2,000 shares during the period. R Squared Ltd acquired a new position in Applied Digital in the fourth quarter worth about $36,000. US Bancorp DE bought a new position in Applied Digital during the fourth quarter worth about $37,000. Jones Financial Companies Lllp acquired a new stake in Applied Digital during the fourth quarter valued at approximately $39,000. Finally, Spire Wealth Management bought a new stake in shares of Applied Digital in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on APLD shares. HC Wainwright boosted their price target on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Wednesday, January 15th. Northland Securities boosted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Compass Point began coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target on the stock. Finally, Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $12.11.

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Insider Activity at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.81% of the stock is owned by company insiders.

Applied Digital Price Performance

Shares of APLD stock traded down $0.74 during trading hours on Friday, reaching $4.92. 33,257,816 shares of the company were exchanged, compared to its average volume of 26,372,408. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock's fifty day moving average is $7.40 and its two-hundred day moving average is $7.99. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -2.84 and a beta of 5.18.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business's revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. Sell-side analysts forecast that Applied Digital Co. will post -0.96 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.