Calamos Advisors LLC Invests $1.27 Million in Applied Digital Co. (NASDAQ:APLD)

Calamos Advisors LLC acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 166,600 shares of the company's stock, valued at approximately $1,273,000. Calamos Advisors LLC owned 0.07% of Applied Digital at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in shares of Applied Digital by 16.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock valued at $90,000 after purchasing an additional 1,692 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Applied Digital by 8.8% in the 3rd quarter. Wellington Management Group LLP now owns 37,411 shares of the company's stock worth $309,000 after buying an additional 3,040 shares during the last quarter. R Squared Ltd purchased a new position in shares of Applied Digital during the fourth quarter valued at about $36,000. The Manufacturers Life Insurance Company raised its holdings in Applied Digital by 14.4% in the third quarter. The Manufacturers Life Insurance Company now owns 43,064 shares of the company's stock worth $355,000 after purchasing an additional 5,423 shares in the last quarter. Finally, Spire Wealth Management bought a new position in shares of Applied Digital during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 65.67% of the company's stock.

Insider Activity

In related news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Wes Cummins sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total value of $1,840,000.00. Following the transaction, the chief executive officer now directly owns 3,875,955 shares in the company, valued at approximately $35,658,786. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 270,000 shares of company stock worth $2,477,000 over the last quarter. Insiders own 11.81% of the company's stock.

Applied Digital Price Performance

Shares of NASDAQ APLD traded down $0.09 during midday trading on Friday, reaching $7.79. The stock had a trading volume of 18,224,809 shares, compared to its average volume of 25,388,150. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. Applied Digital Co. has a 12-month low of $2.36 and a 12-month high of $11.25. The stock has a 50-day moving average of $8.58 and a 200-day moving average of $7.16. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -4.50 and a beta of 4.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same period in the previous year, the business earned ($0.05) earnings per share. The business's revenue was up 51.3% on a year-over-year basis. As a group, research analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on APLD. Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Applied Digital in a report on Wednesday, January 15th. Northland Securities increased their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. 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. Finally, Cantor Fitzgerald lowered 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, Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $12.11.

Applied Digital 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.