Invesco Ltd. increased its stake in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 76.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 192,789 shares of the company's stock after purchasing an additional 83,333 shares during the period. Invesco Ltd. owned approximately 0.09% of Applied Digital worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas acquired a new position in Applied Digital in the 1st quarter worth $139,000. Exchange Traded Concepts LLC boosted its stake in Applied Digital by 4.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,042,035 shares of the company's stock worth $5,856,000 after purchasing an additional 39,945 shares during the period. Register Financial Advisors LLC increased its stake in Applied Digital by 26.2% in the 1st quarter. Register Financial Advisors LLC now owns 254,200 shares of the company's stock valued at $1,429,000 after buying an additional 52,700 shares during the last quarter. Hunter Associates Investment Management LLC increased its stake in Applied Digital by 15.9% in the 1st quarter. Hunter Associates Investment Management LLC now owns 535,921 shares of the company's stock valued at $3,019,000 after buying an additional 73,718 shares during the last quarter. Finally, Acuitas Investments LLC acquired a new stake in Applied Digital in the 1st quarter valued at $2,639,000. 65.67% of the stock is owned by institutional investors and hedge funds.
Applied Digital Price Performance
Shares of APLD stock traded down $0.88 during midday trading on Wednesday, hitting $14.38. 18,975,068 shares of the company were exchanged, compared to its average volume of 27,399,572. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.77 and a current ratio of 0.77. The firm's 50 day moving average price is $12.68 and its two-hundred day moving average price is $9.15. Applied Digital Corporation has a 52 week low of $3.01 and a 52 week high of $17.60.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of $38.01 million during the quarter, compared to the consensus estimate of $42.86 million. Applied Digital had a negative net margin of 107.22% and a negative return on equity of 50.03%. Applied Digital's revenue was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) EPS. As a group, equities analysts forecast that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on APLD shares. HC Wainwright lifted their price target on shares of Applied Digital from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Compass Point upgraded shares of Applied Digital from a "neutral" rating to a "buy" rating and set a $13.00 price target on the stock in a research note on Friday, July 25th. Needham & Company LLC lifted their price target on shares of Applied Digital from $12.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. B. Riley lifted their price target 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. Finally, Roth Capital reiterated a "buy" rating on shares of Applied Digital in a research note on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating and twelve have issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $15.64.
Read Our Latest Research Report on APLD
Insider Activity at Applied Digital
In other Applied Digital news, Director Richard N. Nottenburg sold 11,250 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $14.22, for a total value of $159,975.00. Following the completion of the sale, the director owned 317,987 shares of the company's stock, valued at $4,521,775.14. The trade was a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 11.81% of the company's stock.
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.
Featured 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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
