Mirae Asset Global Investments Co. Ltd. Makes New Investment in Applied Digital Corporation $APLD

Key Points

• Mirae Asset initiated a new position in Applied Digital, buying 109,054 shares in Q4 worth about $2.67 million, reflecting fresh institutional interest.
• Applied Digital’s latest quarter showed revenue of $108.6M, up 139.3% year‑over‑year, but it missed on EPS (reported $-0.36 vs. $-0.13 expected) and remains unprofitable with negative net margin and ROE.
• Analyst sentiment is mixed but tilted positive: the stock has an average rating of "Moderate Buy" with an average price target of $42.78 (B. Riley recently raised its target to $53).

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 109,054 shares of the company's stock, valued at approximately $2,674,000.

Several other institutional investors also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. boosted its position in shares of Applied Digital by 8.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company's stock worth $93,000 after purchasing an additional 300 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Applied Digital by 3.6% during the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company's stock worth $227,000 after purchasing an additional 321 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Applied Digital by 1.0% during the 3rd quarter. ProShare Advisors LLC now owns 36,652 shares of the company's stock worth $841,000 after purchasing an additional 376 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Applied Digital by 7.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,951 shares of the company's stock worth $137,000 after purchasing an additional 408 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its position in shares of Applied Digital by 5.7% during the 3rd quarter. Wedbush Securities Inc. now owns 10,785 shares of the company's stock worth $247,000 after purchasing an additional 585 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. B. Riley Financial boosted their target price on shares of Applied Digital to $53.00 and gave the stock a "buy" rating in a research report on Friday, January 9th. Wall Street Zen lowered shares of Applied Digital from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Needham & Company LLC reiterated a "buy" rating and issued a $41.00 price objective on shares of Applied Digital in a research report on Thursday, January 8th. Zacks Research lowered shares of Applied Digital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Finally, Citigroup reiterated an "outperform" rating on shares of Applied Digital in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $42.78.

Insider Activity at Applied Digital

In other Applied Digital news, Director Chuck Hastings sold 45,987 shares of the company's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $38.57, for a total value of $1,773,718.59. Following the transaction, the director directly owned 388,372 shares in the company, valued at approximately $14,979,508.04. This represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.50% of the stock is owned by corporate insiders.

Applied Digital Price Performance

Applied Digital stock opened at $32.43 on Thursday. Applied Digital Corporation has a 52 week low of $4.04 and a 52 week high of $42.27. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The firm's 50-day simple moving average is $28.27 and its 200 day simple moving average is $29.88. The firm has a market capitalization of $9.27 billion, a PE ratio of -43.82 and a beta of 7.25.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business had revenue of $108.55 million during the quarter, compared to analysts' expectations of $78.47 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Applied Digital's quarterly revenue was up 139.3% on a year-over-year basis. On average, equities research analysts predict that Applied Digital Corporation will post -0.52 EPS for the current fiscal year.

Applied Digital Company 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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