Rhumbline Advisers grew its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 68.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,892 shares of the company's stock after acquiring an additional 105,428 shares during the quarter. Rhumbline Advisers owned about 0.12% of Applied Digital worth $1,978,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. Vontobel Holding Ltd. grew its position in shares of Applied Digital by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock worth $128,000 after buying an additional 1,500 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after purchasing an additional 2,344,572 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Applied Digital in the 4th quarter worth $403,000. Wilmington Savings Fund Society FSB boosted its position in shares of 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 in the last quarter. Finally, Calamos Advisors LLC purchased a new position in Applied Digital during the 4th quarter worth $1,273,000. 65.67% of the stock is owned by institutional investors.
Applied Digital Stock Performance
Shares of NASDAQ:APLD traded up $0.42 during midday trading on Wednesday, reaching $7.34. The company's stock had a trading volume of 16,134,631 shares, compared to its average volume of 28,533,994. 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 stock has a fifty day moving average of $8.35 and a 200 day moving average of $7.71. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $12.48. The firm has a market capitalization of $1.64 billion, a PE ratio of -4.24 and a beta of 4.69.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm's revenue was up 51.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. On average, equities analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
Analyst Ratings Changes
APLD has been the subject of a number of research analyst reports. Compass Point initiated coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target for the company. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Cantor Fitzgerald decreased their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating for the company in a report on Wednesday, January 15th. Finally, HC Wainwright boosted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $12.11.
Read Our Latest Analysis on APLD
Insider Buying and Selling
In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.81% of the stock is owned by corporate insiders.
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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