Fiduciary Alliance LLC Takes Position in Applied Digital Co. (NASDAQ:APLD)

Fiduciary Alliance LLC purchased a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 47,455 shares of the company's stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC lifted its holdings in shares of Applied Digital by 736.8% during the third quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after purchasing an additional 428,428 shares in the last quarter. KBC Group NV purchased a new stake in Applied Digital in the fourth quarter worth about $55,000. R Squared Ltd purchased a new stake in Applied Digital in the fourth quarter worth about $36,000. Spire Wealth Management purchased a new stake in shares of Applied Digital during the fourth quarter worth about $43,000. Finally, Calamos Advisors LLC purchased a new position in Applied Digital during the 4th quarter valued at approximately $1,273,000. Institutional investors own 65.67% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. HC Wainwright raised their price objective on Applied Digital from $7.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday. Citizens Jmp upgraded shares of Applied Digital to a "strong-buy" rating and set a $12.00 target price for the company in a report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of Applied Digital in a report on Monday. Craig Hallum lifted their price objective on Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Cantor Fitzgerald reduced their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Applied Digital has a consensus rating of "Buy" and a consensus target price of $12.45.

Applied Digital Stock Down 3.6%

Shares of NASDAQ:APLD traded down $0.48 on Thursday, reaching $12.77. The company had a trading volume of 193,585,256 shares, compared to its average volume of 36,886,391. Applied Digital Co. has a 52-week low of $3.01 and a 52-week high of $14.49. The firm's 50 day simple moving average is $5.85 and its 200-day simple moving average is $7.48. The firm has a market capitalization of $2.87 billion, a PE ratio of -7.38 and a beta of 6.09. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. During the same quarter last year, the firm earned ($0.24) earnings per share. As a group, analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total transaction of $169,484.00. Following the sale, the director now owns 83,613 shares in the company, valued at approximately $585,291. The trade was a 22.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.81% 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.