Applied Digital Target of Unusually Large Options Trading (NASDAQ:APLD)

Applied Digital Co. (NASDAQ:APLD) saw some unusual options trading activity on Thursday. Traders purchased 32,248 call options on the company. This represents an increase of 72% compared to the typical daily volume of 18,711 call options.

Applied Digital Stock Down 7.3 %

Shares of APLD opened at $7.45 on Friday. The firm’s 50-day simple moving average is $5.25 and its 200 day simple moving average is $4.69. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $1.02 billion, a P/E ratio of -9.43 and a beta of 4.51. Applied Digital has a 52 week low of $2.36 and a 52 week high of $8.78.

Applied Digital (NASDAQ:APLD) last posted its earnings results on Wednesday, August 28th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.29). The firm had revenue of $43.70 million during the quarter, compared to analyst estimates of $42.70 million. Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. During the same period in the previous year, the company posted ($0.07) EPS. On average, analysts forecast that Applied Digital will post -1.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on APLD shares. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Thursday, September 5th. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of Applied Digital in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a research report on Monday, September 9th. Finally, B. Riley boosted their target price on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $8.40.

Insider Activity

In other news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $5.50, for a total transaction of $55,000.00. Following the completion of the transaction, the director now directly owns 218,506 shares in the company, valued at $1,201,783. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 20.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. bought a new position in shares of Applied Digital during the first quarter worth approximately $50,000. Headlands Technologies LLC raised its holdings in Applied Digital by 381.8% in the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after acquiring an additional 6,933 shares in the last quarter. ARS Investment Partners LLC bought a new stake in shares of Applied Digital during the 2nd quarter valued at $60,000. Capstone Investment Advisors LLC acquired a new stake in shares of Applied Digital during the 4th quarter worth $78,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Applied Digital in the fourth quarter worth $81,000. Institutional investors own 65.67% of the company’s stock.

About Applied Digital

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.