Hunter Associates Investment Management LLC Grows Stock Holdings in Applied Digital Corporation (NASDAQ:APLD)

Hunter Associates Investment Management LLC boosted its position in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 15.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 535,921 shares of the company's stock after purchasing an additional 73,718 shares during the period. Hunter Associates Investment Management LLC owned about 0.24% of Applied Digital worth $3,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Applied Digital by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after acquiring an additional 3,587,619 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Applied Digital by 14,635.7% in the fourth quarter. Tidal Investments LLC now owns 1,697,850 shares of the company's stock valued at $12,972,000 after purchasing an additional 1,686,328 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Applied Digital during the 4th quarter worth approximately $12,843,000. Geode Capital Management LLC increased its stake in shares of Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares in the last quarter. Finally, Hood River Capital Management LLC raised its position in shares of Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after purchasing an additional 1,464,854 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 directly owned 83,613 shares in the company, valued at approximately $585,291. This trade represents a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.81% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on APLD. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research note on Monday, June 2nd. Craig Hallum boosted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. B. Riley upped their price objective on shares of Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. HC Wainwright lifted their target price on shares of Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Finally, Citizens Jmp upgraded Applied Digital to a "strong-buy" rating and set a $12.00 price target for the company in a report on Thursday, May 22nd. 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 data from MarketBeat, Applied Digital has an average rating of "Buy" and an average price target of $12.73.

Applied Digital Stock Performance

NASDAQ APLD opened at $9.36 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.70. Applied Digital Corporation has a 1-year low of $3.01 and a 1-year high of $15.42. The firm has a market capitalization of $2.11 billion, a P/E ratio of -6.83 and a beta of 6.04. The business's 50-day simple moving average is $8.88 and its 200-day simple moving average is $7.75.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 77.49% and a negative net margin of 109.99%. The business had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Equities analysts predict that Applied Digital Corporation will post -0.96 EPS for the current year.

About Applied Digital

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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