52,781 Shares in Applied Digital Co. (NASDAQ:APLD) Bought by Entropy Technologies LP

Entropy Technologies LP purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 52,781 shares of the company's stock, valued at approximately $403,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB raised its position in Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new position in shares of Applied Digital during the 4th quarter worth approximately $36,000. Spire Wealth Management purchased a new position in shares of Applied Digital during the 4th quarter worth approximately $43,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Applied Digital during the 3rd quarter worth approximately $59,000. Finally, KBC Group NV purchased a new position in shares of Applied Digital during the 4th quarter worth approximately $55,000. Institutional investors own 65.67% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on APLD. Compass Point began coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price on the stock. HC Wainwright upped their target price on Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Applied Digital in a report on Wednesday, January 15th. Northland Securities upped their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Finally, Cantor Fitzgerald reduced their target price on Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a report on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital currently has a consensus rating of "Buy" and an average target price of $12.11.

Applied Digital Stock Up 15.2 %

Shares of Applied Digital stock traded up $1.20 during midday trading on Friday, hitting $9.11. The company had a trading volume of 42,892,479 shares, compared to its average volume of 25,388,150. The stock has a market capitalization of $2.03 billion, a P/E ratio of -5.27 and a beta of 4.77. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $11.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50 day moving average of $8.40 and a 200 day moving average of $7.32.

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

Insider Activity at Applied Digital

In related news, Director Richard N. Nottenburg sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total value of $460,000.00. Following the transaction, the director now directly owns 334,317 shares of the company's stock, valued at approximately $3,075,716.40. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Wes Cummins sold 200,000 shares of the stock in a transaction 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 $35,658,786. The trade was a 4.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,000 shares of company stock valued at $2,477,000. 11.81% of the stock is owned by corporate insiders.

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.