CastleKnight Management LP bought a new position in shares of Applied Digital Corporation (NASDAQ:APLD – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 111,300 shares of the company’s stock, valued at approximately $2,729,000.
Several other large investors also recently bought and sold shares of APLD. Noble Wealth Management PBC purchased a new stake in Applied Digital during the 4th quarter worth about $25,000. Albion Financial Group UT purchased a new stake in Applied Digital during the 4th quarter worth about $25,000. Activest Wealth Management purchased a new stake in Applied Digital during the 4th quarter worth about $25,000. McMillan Office Inc. purchased a new stake in Applied Digital during the 4th quarter worth about $25,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Applied Digital during the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.
Analyst Ratings Changes
APLD has been the topic of several recent research reports. B. Riley Financial restated a “buy” rating and set a $66.00 price target (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Compass Point restated a “buy” rating and set a $70.00 price target on shares of Applied Digital in a report on Friday, May 22nd. Lake Street Capital upped their price target on Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC upped their price target on Applied Digital from $66.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Finally, Wall Street Zen downgraded Applied Digital from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $70.56.
Applied Digital Trading Down 1.5%
NASDAQ:APLD opened at $45.57 on Thursday. The stock has a 50-day simple moving average of $39.22 and a 200-day simple moving average of $33.24. The stock has a market cap of $13.02 billion, a P/E ratio of -61.58 and a beta of 5.69. Applied Digital Corporation has a 1 year low of $9.02 and a 1 year high of $50.72. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38.
Applied Digital (NASDAQ:APLD – Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The firm’s revenue for the quarter was up 139.3% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. As a group, analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.
Insider Transactions at Applied Digital
In related news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total value of $432,375.00. Following the completion of the sale, the director directly owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. This trade represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 35,000 shares of company stock valued at $1,182,175. Insiders own 9.50% of the company’s stock.
About Applied Digital
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.
Featured Stories
- Five stocks we like better than Applied Digital
- Cheap Thrills: Why These 3 Entertainment Stocks Are Soaring
- CoreWeave Insider Sales Look Big, But Should Investors Worry?
- Critical Metals: Sizing Up This Tiny Rare-Earth Stock Making Big Moves
- Meta and Cloud Computing: Real Potential, or a Shot in the Dark?
Receive News & Ratings for Applied Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Digital and related companies with MarketBeat.com's FREE daily email newsletter.
