Exchange Traded Concepts LLC boosted its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,042,035 shares of the company's stock after purchasing an additional 39,945 shares during the quarter. Exchange Traded Concepts LLC owned about 0.47% of Applied Digital worth $5,856,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. US Bancorp DE purchased a new stake in shares of Applied Digital in the fourth quarter worth about $37,000. Jones Financial Companies Lllp bought a new stake in Applied Digital in the 4th quarter worth approximately $39,000. Amalgamated Bank raised its holdings in shares of Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after acquiring an additional 3,473 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Applied Digital by 1,237.4% in the first quarter. GAMMA Investing LLC now owns 9,576 shares of the company's stock valued at $540,000 after purchasing an additional 8,860 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Applied Digital by 143.1% during the fourth quarter. NewEdge Advisors LLC now owns 9,810 shares of the company's stock valued at $75,000 after purchasing an additional 5,775 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on APLD. HC Wainwright upped their target price on shares of Applied Digital from $7.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Roth Capital restated a "buy" rating on shares of Applied Digital in a report on Monday, June 2nd. Cantor Fitzgerald decreased their target price on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Craig Hallum lifted 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 Tuesday, June 3rd. Finally, B. Riley lifted their target price on Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $12.73.
Get Our Latest Stock Analysis on APLD
Insider Buying and Selling at Applied Digital
In related news, Director Rachel H. Lee sold 24,212 shares of the firm'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 directly owns 83,613 shares of the company's stock, valued at $585,291. This trade represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.81% of the stock is owned by corporate insiders.
Applied Digital Stock Performance
Shares of APLD stock traded up $0.37 during mid-day trading on Monday, reaching $11.55. The stock had a trading volume of 40,617,416 shares, compared to its average volume of 39,631,098. Applied Digital Co. has a 1-year low of $3.01 and a 1-year high of $15.42. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -6.68 and a beta of 6.08. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The business's fifty day moving average is $6.83 and its 200-day moving average is $7.61.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. During the same period in the prior year, the business posted ($0.24) earnings per share. On average, research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.
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.
See Also
Before you consider Applied Digital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Applied Digital wasn't on the list.
While Applied Digital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
