Hood River Capital Management LLC boosted its position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 8.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,596,231 shares of the company's stock after acquiring an additional 771,699 shares during the period. Applied Digital accounts for 1.2% of Hood River Capital Management LLC's holdings, making the stock its 27th biggest position. Hood River Capital Management LLC owned 6.99% of Applied Digital worth $57,098,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. MRP Capital Investments LLC boosted its stake in Applied Digital by 91.7% in the 2nd quarter. MRP Capital Investments LLC now owns 119,875 shares of the company's stock worth $713,000 after purchasing an additional 57,350 shares in the last quarter. Thomist Capital Management LP purchased a new stake in shares of Applied Digital during the second quarter valued at $2,529,000. L & S Advisors Inc purchased a new position in Applied Digital in the 2nd quarter worth $122,000. ICA Group Wealth Management LLC lifted 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 worth $112,000 after acquiring an additional 6,795 shares during the period. Finally, Headlands Technologies LLC grew its stake 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. 65.67% of the stock is owned by hedge funds and other institutional investors.
Applied Digital Stock Performance
Shares of APLD traded up $0.68 during trading hours on Monday, hitting $6.70. The stock had a trading volume of 15,340,597 shares, compared to its average volume of 6,157,385. The firm has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.45. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $8.65. The firm has a market capitalization of $919.30 million, a price-to-earnings ratio of -8.06 and a beta of 4.51. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.29). Applied Digital had a negative return on equity of 111.80% and a negative net margin of 88.95%. The firm had revenue of $43.70 million for the quarter, compared to analysts' expectations of $42.70 million. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, research analysts anticipate that Applied Digital Co. will post -1.02 EPS for the current year.
Insider Buying and Selling at Applied Digital
In other news, Director Douglas S. Miller sold 10,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 218,506 shares of the company's stock, valued at approximately $1,201,783. The sale was disclosed in a filing with the SEC, which is available at this link. 20.50% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. B. Riley raised their price objective on Applied Digital from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Needham & Company LLC reissued a "buy" rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, September 9th. HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price objective on shares of Applied Digital in a report on Thursday, August 29th. Finally, Roth Mkm reissued a "buy" rating and set a $10.00 target price on shares of Applied Digital in a report on Thursday, September 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $8.40.
Check Out Our Latest Analysis on APLD
Applied Digital Company Profile
(
Free Report)
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.
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