Commonwealth Equity Services LLC Acquires 37,742 Shares of Applied Digital Co. (NASDAQ:APLD)

Commonwealth Equity Services LLC boosted its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 55.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 106,270 shares of the company’s stock after buying an additional 37,742 shares during the period. Commonwealth Equity Services LLC’s holdings in Applied Digital were worth $812,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in Applied Digital by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock valued at $33,649,000 after buying an additional 2,344,572 shares during the period. Geode Capital Management LLC increased its holdings in shares of Applied Digital by 48.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock worth $25,258,000 after acquiring an additional 1,002,862 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Applied Digital by 100.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company’s stock valued at $13,740,000 after acquiring an additional 899,138 shares during the period. Barclays PLC lifted its holdings in Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after purchasing an additional 428,428 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Applied Digital during the fourth quarter worth $3,056,000. Institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

NASDAQ:APLD opened at $6.24 on Thursday. The stock has a fifty day moving average of $7.56 and a 200 day moving average of $8.00. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $12.48. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.61 and a beta of 4.69. 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 earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The company 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%. Applied Digital’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, research analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares of the company’s stock, valued at $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 11.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APLD. Northland Securities increased 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. Cantor Fitzgerald lowered their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. HC Wainwright boosted their target price on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Compass Point started coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a report on Monday, February 24th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $12.11.

Applied Digital 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.