Van ECK Associates Corp Acquires 332,565 Shares of Applied Digital Co. (NASDAQ:APLD)

Van ECK Associates Corp raised its holdings in shares of Applied Digital Co. (NASDAQ:APLDFree Report) by 71.2% during the third quarter, HoldingsChannel.com reports. The firm owned 799,862 shares of the company’s stock after buying an additional 332,565 shares during the period. Van ECK Associates Corp’s holdings in Applied Digital were worth $4,991,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Emerald Advisers LLC grew its holdings in shares of Applied Digital by 27.7% during the third quarter. Emerald Advisers LLC now owns 965,679 shares of the company’s stock valued at $6,026,000 after buying an additional 209,280 shares during the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Applied Digital by 52.7% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 904,314 shares of the company’s stock valued at $5,643,000 after buying an additional 311,995 shares during the last quarter. Equitec Proprietary Markets LLC grew its holdings in shares of Applied Digital by 234.3% during the third quarter. Equitec Proprietary Markets LLC now owns 808,812 shares of the company’s stock valued at $5,047,000 after buying an additional 566,898 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Applied Digital by 73.6% during the third quarter. Exchange Traded Concepts LLC now owns 639,482 shares of the company’s stock valued at $3,990,000 after buying an additional 271,197 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Applied Digital by 206.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 484,658 shares of the company’s stock valued at $3,024,000 after buying an additional 326,701 shares during the last quarter. 53.75% of the stock is owned by institutional investors and hedge funds.

Applied Digital Stock Up 5.2 %

NASDAQ:APLD opened at $5.28 on Monday. Applied Digital Co. has a one year low of $1.74 and a one year high of $11.62. 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 fifty day simple moving average of $6.14.

Applied Digital (NASDAQ:APLDGet Free Report) last posted its quarterly earnings results on Tuesday, January 16th. The company reported ($0.10) EPS for the quarter. Applied Digital had a negative net margin of 28.94% and a negative return on equity of 31.26%. The business had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $54.78 million. Research analysts forecast that Applied Digital Co. will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Virginia Moore sold 15,000 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $4.87, for a total value of $73,050.00. Following the sale, the director now directly owns 178,630 shares of the company’s stock, valued at $869,928.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 23.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reissued a “buy” rating and set a $16.00 price objective on shares of Applied Digital in a report on Thursday.

View Our Latest Stock Analysis on Applied Digital

About Applied Digital

(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.

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Institutional Ownership by Quarter for Applied Digital (NASDAQ:APLD)

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