Hunter Associates Investment Management LLC boosted its stake in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) by 15.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 535,921 shares of the company's stock after acquiring an additional 73,718 shares during the quarter. Hunter Associates Investment Management LLC owned about 0.24% of Applied Digital worth $3,019,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of APLD. Bank of New York Mellon Corp boosted its position in shares of Applied Digital by 50.5% during the fourth quarter. Bank of New York Mellon Corp now owns 480,526 shares of the company's stock valued at $3,671,000 after buying an additional 161,250 shares during the period. US Bancorp DE purchased a new position in shares of Applied Digital during the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp purchased a new position in shares of Applied Digital during the fourth quarter valued at approximately $39,000. Charles Schwab Investment Management Inc. boosted its position in shares of Applied Digital by 100.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company's stock valued at $13,740,000 after buying an additional 899,138 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Applied Digital by 66.8% during the fourth quarter. Arizona State Retirement System now owns 49,953 shares of the company's stock valued at $382,000 after buying an additional 20,002 shares during the period. Hedge funds and other institutional investors own 65.67% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on APLD shares. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Applied Digital in a report on Monday, June 2nd. Citigroup reiterated an "outperform" rating on shares of Applied Digital in a report on Tuesday, June 3rd. B. Riley boosted their price target on Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Compass Point reiterated a "neutral" rating and issued a $13.00 price target (up previously from $10.00) on shares of Applied Digital in a report on Monday, June 9th. 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 equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $12.73.
Check Out Our Latest Analysis on Applied Digital
Applied Digital Price Performance
NASDAQ:APLD traded down $0.18 during trading hours on Thursday, reaching $9.33. The company's stock had a trading volume of 17,982,187 shares, compared to its average volume of 34,489,584. Applied Digital Corporation has a 12 month low of $3.01 and a 12 month high of $15.42. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average price of $8.88 and a two-hundred day moving average price of $7.75.
Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. Applied Digital had a negative return on equity of 77.49% and a negative net margin of 109.99%. During the same period last year, the firm earned ($0.24) EPS. Analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current year.
Insider Buying and Selling
In related news, Director Rachel H. Lee sold 24,212 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the transaction, the director owned 83,613 shares of the company's stock, valued at $585,291. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.81% of the stock is owned by company insiders.
About Applied Digital
(
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.
Recommended Stories
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 where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
