Equitec Proprietary Markets LLC Acquires 3,359,845 Shares of Applied Digital Co. (NASDAQ:APLD)

Equitec Proprietary Markets LLC lifted its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 415.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,168,657 shares of the company's stock after purchasing an additional 3,359,845 shares during the quarter. Applied Digital accounts for approximately 20.8% of Equitec Proprietary Markets LLC's holdings, making the stock its biggest position. Equitec Proprietary Markets LLC owned approximately 3.42% of Applied Digital worth $28,097,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of APLD. Vanguard Group Inc. raised its position in shares of Applied Digital by 40.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company's stock worth $20,814,000 after purchasing an additional 963,390 shares during the last quarter. William Blair Investment Management LLC increased its holdings in Applied Digital by 110.9% in the 3rd quarter. William Blair Investment Management LLC now owns 1,152,940 shares of the company's stock worth $7,194,000 after buying an additional 606,347 shares in the last quarter. Numerai GP LLC increased its holdings in Applied Digital by 370.3% in the 3rd quarter. Numerai GP LLC now owns 558,450 shares of the company's stock worth $3,485,000 after buying an additional 439,719 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Applied Digital in the 3rd quarter worth about $2,270,000. Finally, Northern Trust Corp increased its holdings in Applied Digital by 140.5% in the 3rd quarter. Northern Trust Corp now owns 619,766 shares of the company's stock worth $3,867,000 after buying an additional 362,029 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company's stock.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Virginia Moore sold 30,000 shares of the company's stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $4.74, for a total value of $142,200.00. Following the transaction, the director now owns 148,630 shares of the company's stock, valued at approximately $704,506.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 23.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Roth Mkm reduced their price objective on Applied Digital from $13.00 to $8.00 and set a "buy" rating for the company in a report on Friday. Lake Street Capital cut their price target on Applied Digital from $19.00 to $7.00 and set a "buy" rating for the company in a research note on Friday. B. Riley cut their price target on Applied Digital from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, April 5th. Finally, Needham & Company LLC cut their price target on Applied Digital from $13.00 to $11.00 and set a "buy" rating for the company in a research note on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital presently has a consensus rating of "Buy" and an average target price of $9.20.

Applied Digital Price Performance

Shares of APLD traded down $0.36 during mid-day trading on Friday, hitting $2.71. 11,133,328 shares of the stock were exchanged, compared to its average volume of 3,497,284. The company has a market cap of $330.73 million, a PE ratio of -3.43 and a beta of 4.12. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a 50-day moving average of $4.20 and a two-hundred day moving average of $5.12. Applied Digital Co. has a 52-week low of $2.65 and a 52-week high of $11.62.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Tuesday, January 16th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $42.20 million for the quarter, compared to the consensus estimate of $54.78 million. Applied Digital had a negative net margin of 61.84% and a negative return on equity of 75.57%. On average, equities analysts predict that Applied Digital Co. will post -0.48 earnings per share for the current year.

Applied Digital Company Profile

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.