Applied Digital Corporation (NASDAQ:APLD) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Applied Digital Corporation (NASDAQ:APLD) by 1,237.4% during the first quarter, HoldingsChannel.com reports. The firm owned 9,576 shares of the company’s stock after buying an additional 8,860 shares during the period. GAMMA Investing LLC’s holdings in Applied Digital were worth $540,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. 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 valued at $128,000 after purchasing an additional 1,500 shares in the last quarter. Amalgamated Bank raised its position in shares of Applied Digital by 113.3% in the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company’s stock valued at $50,000 after purchasing an additional 3,473 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Applied Digital by 34.7% in the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company’s stock valued at $123,000 after purchasing an additional 4,162 shares in the last quarter. 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 valued at $111,000 after purchasing an additional 4,459 shares in the last quarter. Finally, Smith Moore & CO. raised its position in shares of Applied Digital by 13.8% in the 4th quarter. Smith Moore & CO. now owns 37,000 shares of the company’s stock valued at $283,000 after purchasing an additional 4,500 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Digital

In related news, Director Rachel H. Lee sold 24,212 shares of Applied Digital stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total transaction of $169,484.00. Following the sale, the director now directly owns 83,613 shares in the company, valued at $585,291. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.81% of the company’s stock.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $10.61 on Thursday. Applied Digital Corporation has a 1-year low of $3.01 and a 1-year high of $15.42. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.70 and a quick ratio of 0.70. The business’s fifty day moving average price is $7.17 and its two-hundred day moving average price is $7.66. The firm has a market capitalization of $2.39 billion, a PE ratio of -7.74 and a beta of 6.08.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative return on equity of 77.49% and a negative net margin of 109.99%. During the same period in the prior year, the business earned ($0.24) earnings per share. On average, research analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. B. Riley upped their target price on Applied Digital from $8.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. JMP Securities upped their price target on Applied Digital from $12.00 to $18.00 and gave the company a “market outperform” rating in a research report on Tuesday, June 3rd. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research report on Monday, June 2nd. Citizens Jmp raised Applied Digital to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Thursday, May 22nd. Finally, HC Wainwright upped their price target on Applied Digital from $7.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.73.

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.