Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC raised its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 13,394.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 70,578 shares of the company's stock after purchasing an additional 70,055 shares during the period. Headlands Technologies LLC's holdings in Applied Digital were worth $539,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

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

Applied Digital Stock Up 3.7 %

NASDAQ:APLD traded up $0.18 during mid-day trading on Monday, reaching $5.10. The company's stock had a trading volume of 16,482,861 shares, compared to its average volume of 26,173,521. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $12.48. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.14 billion, a PE ratio of -2.95 and a beta of 5.18. The stock has a fifty day moving average of $7.40 and a 200-day moving average of $8.00.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. During the same quarter last year, the company earned ($0.05) earnings per share. The firm's revenue for the quarter was up 51.3% compared to the same quarter last year. Equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 20,000 shares of the firm's 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 directly owns 342,923 shares in the company, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.81% of the stock is currently owned by company 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.