66,250 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 66,250 shares of the company's stock, valued at approximately $545,000.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in Applied Digital by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company's stock worth $103,000 after buying an additional 3,182 shares during the period. California State Teachers Retirement System lifted its stake in shares of Applied Digital by 14.1% in the 1st quarter. California State Teachers Retirement System now owns 91,086 shares of the company's stock valued at $390,000 after purchasing an additional 11,288 shares during the period. ARS Investment Partners LLC bought a new stake in shares of Applied Digital during the second quarter valued at approximately $60,000. Bank of New York Mellon Corp grew its stake in Applied Digital by 36.2% in the second quarter. Bank of New York Mellon Corp now owns 304,869 shares of the company's stock worth $1,814,000 after purchasing an additional 80,958 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Applied Digital by 115.7% in the second quarter. Commonwealth Equity Services LLC now owns 66,688 shares of the company's stock worth $397,000 after purchasing an additional 35,768 shares in the last quarter. Institutional investors own 65.67% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard N. Nottenburg sold 80,000 shares of Applied Digital stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $7.37, for a total value of $589,600.00. Following the transaction, the director now owns 433,686 shares of the company's stock, valued at $3,196,265.82. The trade was a 15.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $8.01, for a total transaction of $80,100.00. Following the completion of the transaction, the director now directly owns 208,506 shares in the company, valued at $1,670,133.06. This represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,369 shares of company stock worth $3,115,161 in the last three months. Corporate insiders own 11.81% of the company's stock.

Applied Digital Trading Down 10.8 %

Shares of Applied Digital stock traded down $1.15 during trading on Monday, hitting $9.52. The stock had a trading volume of 22,627,739 shares, compared to its average volume of 17,550,078. The stock has a market cap of $2.01 billion, a PE ratio of -8.14 and a beta of 4.67. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.25. The firm's fifty day simple moving average is $8.20 and its 200-day simple moving average is $6.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.13. The company had revenue of $60.70 million for the quarter, compared to the consensus estimate of $54.85 million. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. Applied Digital's quarterly revenue was up 67.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS. As a group, sell-side analysts expect that Applied Digital Co. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on APLD shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research report on Friday, November 1st. Craig Hallum raised their target price on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. HC Wainwright boosted their price target on Applied Digital from $5.00 to $10.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. B. Riley upped their price target on Applied Digital from $8.00 to $9.00 and gave the stock a "buy" rating in a research note on Friday, September 13th. Finally, Lake Street Capital lifted their price target on Applied Digital from $7.00 to $11.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $10.50.

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.