Hunter Associates Investment Management LLC Buys 37,060 Shares of Applied Digital Co. (NASDAQ:APLD)

Hunter Associates Investment Management LLC increased its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 462,203 shares of the company’s stock after purchasing an additional 37,060 shares during the quarter. Hunter Associates Investment Management LLC owned approximately 0.21% of Applied Digital worth $3,522,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd bought a new stake in shares of Applied Digital in the 4th quarter valued at about $36,000. KBC Group NV acquired a new stake in Applied Digital in the fourth quarter valued at approximately $55,000. Flagship Harbor Advisors LLC purchased a new position in Applied Digital in the fourth quarter worth $104,000. Exchange Traded Concepts LLC increased its position in shares of Applied Digital by 37.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock worth $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Applied Digital by 414.5% in the 4th quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock worth $2,031,000 after purchasing an additional 214,133 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on APLD shares. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Applied Digital in a research note on Wednesday, January 15th. HC Wainwright upped their price target on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Cantor Fitzgerald lowered their price objective on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Craig Hallum boosted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Lake Street Capital raised their target price on Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital presently has a consensus rating of “Buy” and an average price target of $11.13.

Applied Digital Trading Up 10.3 %

APLD stock opened at $7.38 on Friday. Applied Digital Co. has a one year low of $2.36 and a one year high of $11.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm’s fifty day moving average is $8.89 and its 200 day moving average is $7.09.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.08. The business had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. On average, sell-side analysts forecast that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Insider Activity

In other Applied Digital news, CEO Wes Cummins sold 200,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the completion of the transaction, the chief executive officer now owns 3,875,955 shares of the company’s stock, valued at $35,658,786. This trade represents a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard N. Nottenburg sold 19,369 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $7.51, for a total transaction of $145,461.19. Following the completion of the sale, the director now directly owns 384,317 shares in the company, valued at $2,886,220.67. This trade represents a 4.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 289,369 shares of company stock valued at $2,622,461. 11.81% of the stock is currently owned by insiders.

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.