Dymon Asia Capital Singapore PTE. LTD. Takes $14.22 Million Position in Applied Digital Corporation $APLD

Key Points

• Dymon Asia Capital Singapore PTE. LTD. opened a new position in Applied Digital, buying 580,000 shares worth about $14.22 million. The stake makes APLD its fifth-largest holding and about 1.4% of its portfolio.
• Wall Street sentiment remains constructive, with several analysts raising price targets and one upgrading the stock to strong-buy. Applied Digital now has an average rating of Moderate Buy and an average target price of $67.67.
• The stock was trading up 3.0% at $42.70, near its 52-week high of $50.72. Recent earnings showed revenue growth of 139.3% year over year, though the company still posted a wider-than-expected loss.

Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 580,000 shares of the company's stock, valued at approximately $14,222,000. Applied Digital accounts for 1.4% of Dymon Asia Capital Singapore PTE. LTD.'s investment portfolio, making the stock its 5th largest position. Dymon Asia Capital Singapore PTE. LTD. owned about 0.21% of Applied Digital at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. FORA Capital LLC increased its position in shares of Applied Digital by 356.1% during the fourth quarter. FORA Capital LLC now owns 201,508 shares of the company's stock valued at $4,941,000 after purchasing an additional 157,327 shares during the period. Visionary Wealth Advisors bought a new stake in Applied Digital in the fourth quarter valued at $399,000. Greenline Wealth Management LLC bought a new stake in Applied Digital in the fourth quarter valued at $79,000. Bridgefront Capital LLC bought a new stake in Applied Digital in the fourth quarter valued at $227,000. Finally, Morgan Stanley grew its position in Applied Digital by 37.7% in the fourth quarter. Morgan Stanley now owns 3,561,014 shares of the company's stock valued at $87,316,000 after acquiring an additional 975,657 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APLD. Needham & Company LLC upped their price target on Applied Digital from $66.00 to $83.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Citizens Jmp upped their price target on Applied Digital from $40.00 to $60.00 and gave the company a "market outperform" rating in a research report on Thursday, May 21st. Craig Hallum upped their price target on Applied Digital from $75.00 to $79.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Citigroup reiterated a "market outperform" rating on shares of Applied Digital in a research report on Tuesday. Finally, Lucid Cap Mkts upgraded Applied Digital to a "strong-buy" rating in a research report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Applied Digital has an average rating of "Moderate Buy" and an average target price of $67.67.

Applied Digital Trading Up 3.0%

NASDAQ APLD opened at $42.70 on Friday. The stock has a 50-day simple moving average of $37.94 and a 200 day simple moving average of $32.72. The company has a market capitalization of $12.20 billion, a PE ratio of -57.70 and a beta of 5.69. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65. Applied Digital Corporation has a 12 month low of $9.02 and a 12 month high of $50.72.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The firm's quarterly revenue was up 139.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Research analysts forecast that Applied Digital Corporation will post -0.68 EPS for the current year.

Insider Activity at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company's stock, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $34.59, for a total value of $432,375.00. Following the completion of the transaction, the director directly owned 208,378 shares of the company's stock, valued at $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 35,000 shares of company stock valued at $1,182,175 over the last three months. Insiders own 9.50% of the company's stock.

Applied Digital Profile

Applied Digital NASDAQ: APLD is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital's modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.

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