Hsbc Holdings PLC lifted its position in shares of Applied Digital Corporation (NASDAQ:APLD – Free Report) by 6.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,240,239 shares of the company’s stock after acquiring an additional 72,460 shares during the quarter. Hsbc Holdings PLC’s holdings in Applied Digital were worth $28,377,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Ascentis Independent Advisors boosted its holdings in Applied Digital by 121.7% in the first quarter. Ascentis Independent Advisors now owns 20,154 shares of the company’s stock worth $478,000 after purchasing an additional 11,065 shares during the period. Hunter Associates Investment Management LLC increased its stake in Applied Digital by 1.5% during the first quarter. Hunter Associates Investment Management LLC now owns 502,685 shares of the company’s stock valued at $11,933,000 after purchasing an additional 7,647 shares during the last quarter. Baer Investment Advisory LLC acquired a new stake in shares of Applied Digital during the first quarter worth $230,000. World Investment Advisors acquired a new stake in shares of Applied Digital during the first quarter worth $598,000. Finally, Private Advisor Group LLC lifted its position in shares of Applied Digital by 3.6% in the 1st quarter. Private Advisor Group LLC now owns 96,558 shares of the company’s stock worth $2,292,000 after buying an additional 3,333 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital 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 sale, the director directly owned 208,378 shares in the company, valued at $7,207,795.02. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director owned 184,859 shares in the company, valued at approximately $6,466,367.82. This represents a 5.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 35,000 shares of company stock valued at $1,182,175 in the last 90 days. Insiders own 9.50% of the company’s stock.
Analysts Set New Price Targets
View Our Latest Analysis on Applied Digital
Applied Digital Price Performance
Shares of NASDAQ APLD opened at $30.05 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market capitalization of $8.59 billion, a PE ratio of -40.61 and a beta of 5.67. Applied Digital Corporation has a 1-year low of $9.79 and a 1-year high of $50.72. The business’s fifty day moving average price is $39.75 and its two-hundred day moving average price is $34.54.
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.
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