Applied Digital (NASDAQ:APLD) CFO Mohammad Saidal Lavanw Mohmand Sells 75,000 Shares

Key Points

• Applied Digital Corporation's CFO, Mohammad Saidal Lavanw Mohmand, sold 75,000 shares of the company's stock for a total value of approximately $1.14 million, reducing his ownership by 27.10%.
• Despite reporting a revenue of $38.01 million, Applied Digital's quarterly earnings per share matched analysts' expectations at (0.12), while its net margin was significantly negative at 107.22%.
• The company's stock has experienced a trading decline of 3.1%, with a recent price point of $13.89 per share and a market cap of $3.63 billion.

Applied Digital Corporation (NASDAQ:APLD - Get Free Report) CFO Mohammad Saidal Lavanw Mohmand sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $15.26, for a total value of $1,144,500.00. Following the transaction, the chief financial officer directly owned 201,800 shares of the company's stock, valued at approximately $3,079,468. The trade was a 27.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Applied Digital Trading Down 3.1%

NASDAQ:APLD traded down $0.44 during trading hours on Friday, hitting $13.89. The company had a trading volume of 16,318,691 shares, compared to its average volume of 24,849,142. The company has a market cap of $3.63 billion, a P/E ratio of -12.74 and a beta of 6.64. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.36. Applied Digital Corporation has a 1 year low of $3.31 and a 1 year high of $17.60. The company has a 50-day moving average of $12.82 and a 200 day moving average of $9.21.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). The company had revenue of $38.01 million for the quarter, compared to analyst estimates of $42.86 million. Applied Digital had a negative net margin of 107.22% and a negative return on equity of 50.03%. The business's revenue for the quarter was up 41.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) earnings per share. Sell-side analysts expect that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Capital restated a "buy" rating on shares of Applied Digital in a research note on Monday, June 2nd. HC Wainwright raised their price target on Applied Digital from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Monday, August 25th. Compass Point upgraded Applied Digital from a "neutral" rating to a "buy" rating and set a $13.00 price objective for the company in a research report on Friday, July 25th. Citizens Jmp raised Applied Digital to a "strong-buy" rating and set a $12.00 price target on the stock in a research note on Thursday, May 22nd. Finally, Needham & Company LLC raised their price target on Applied Digital from $12.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $15.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Union Bankshares Corp acquired a new stake in shares of Applied Digital in the second quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Applied Digital in the 2nd quarter valued at approximately $26,000. PNC Financial Services Group Inc. bought a new position in shares of Applied Digital in the 1st quarter valued at approximately $28,000. Geneos Wealth Management Inc. grew its holdings in Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock valued at $37,000 after buying an additional 3,542 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new stake in shares of Applied Digital during the second quarter valued at approximately $42,000. Institutional investors own 65.67% 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.

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