Private Advisor Group LLC Acquires 19,355 Shares of Applied Digital Co. (NASDAQ:APLD)

Private Advisor Group LLC lifted its holdings in Applied Digital Co. (NASDAQ:APLD) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,055 shares of the company’s stock after acquiring an additional 19,355 shares during the period. Private Advisor Group LLC’s holdings in Applied Digital were worth $444,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in APLD. New York State Common Retirement Fund boosted its stake in Applied Digital by 75.0% during the fourth quarter. New York State Common Retirement Fund now owns 40,819 shares of the company’s stock valued at $312,000 after buying an additional 17,500 shares during the last quarter. Atria Wealth Solutions Inc. bought a new stake in Applied Digital during the 4th quarter valued at $149,000. Principal Financial Group Inc. raised its position in shares of Applied Digital by 44.2% in the 4th quarter. Principal Financial Group Inc. now owns 14,542 shares of the company’s stock worth $111,000 after acquiring an additional 4,459 shares in the last quarter. Rhumbline Advisers raised its position in shares of Applied Digital by 68.7% in the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock worth $1,978,000 after acquiring an additional 105,428 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Applied Digital by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company’s stock worth $128,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Down 14.0 %

Shares of Applied Digital stock opened at $6.88 on Tuesday. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The stock has a 50 day moving average of $8.39 and a 200 day moving average of $7.69. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.98 and a beta of 4.77. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08. The business had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period last year, the business posted ($0.05) earnings per share. As a group, research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HC Wainwright boosted their target price on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Compass Point assumed coverage on Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price on the stock. Cantor Fitzgerald dropped their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $12.11.

Insider Buying and Selling

In related news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 11.81% of the company’s stock.

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.