Thomist Capital Management LP Purchases Shares of 425,000 Applied Digital Co. (NASDAQ:APLD)

Thomist Capital Management LP bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 425,000 shares of the company's stock, valued at approximately $2,529,000. Applied Digital accounts for 0.9% of Thomist Capital Management LP's portfolio, making the stock its 18th biggest holding. Thomist Capital Management LP owned 0.31% of Applied Digital as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. L & S Advisors Inc purchased a new stake in Applied Digital during the 2nd quarter valued at about $122,000. ICA Group Wealth Management LLC raised its position in Applied Digital by 56.8% during the 2nd quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company's stock valued at $112,000 after purchasing an additional 6,795 shares during the last quarter. Headlands Technologies LLC raised its position in Applied Digital by 381.8% during the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company's stock valued at $52,000 after purchasing an additional 6,933 shares during the last quarter. Crumly & Associates Inc. bought a new position in Applied Digital during the 2nd quarter valued at approximately $110,000. Finally, Rhumbline Advisers raised its position in Applied Digital by 30.0% during the 2nd quarter. Rhumbline Advisers now owns 140,087 shares of the company's stock valued at $834,000 after purchasing an additional 32,336 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Stock Down 8.4 %

APLD traded down $0.51 during trading on Thursday, hitting $5.56. 16,158,377 shares of the company's stock traded hands, compared to its average volume of 6,040,695. The company's 50 day simple moving average is $4.80 and its two-hundred day simple moving average is $4.42. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.14. Applied Digital Co. has a 12-month low of $2.36 and a 12-month high of $8.65. The stock has a market capitalization of $762.88 million, a price-to-earnings ratio of -7.09 and a beta of 4.51.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate 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 business had revenue of $43.70 million for the quarter, compared to analysts' expectations of $42.70 million. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Analysts predict that Applied Digital Co. will post -1.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on APLD. Roth Mkm reaffirmed a "buy" rating and set a $10.00 price target on shares of Applied Digital in a research report on Thursday, September 5th. HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of Applied Digital in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $11.00 price objective on shares of Applied Digital in a research report on Monday, September 9th. Finally, B. Riley raised their price objective on Applied Digital from $8.00 to $9.00 and gave the company a "buy" rating in a research report on Friday, September 13th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital has a consensus rating of "Buy" and an average price target of $8.40.

Insider Transactions at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total transaction of $55,000.00. Following the transaction, the director now directly owns 218,506 shares in the company, valued at $1,201,783. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.50% of the company's stock.

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.