Wes Cummins Acquires 50,000 Shares of Applied Digital Co. (OTCMKTS:APLD) Stock

Applied Digital Co. (OTCMKTS:APLDGet Rating) CEO Wes Cummins bought 50,000 shares of Applied Digital stock in a transaction dated Tuesday, January 17th. The shares were acquired at an average cost of $2.25 per share, with a total value of $112,500.00. Following the completion of the purchase, the chief executive officer now owns 1,600,686 shares in the company, valued at $3,601,543.50. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Wes Cummins also recently made the following trade(s):

  • On Thursday, January 12th, Wes Cummins bought 50,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.17 per share, with a total value of $108,500.00.
  • On Wednesday, November 30th, Wes Cummins bought 75,000 shares of Applied Digital stock. The shares were acquired at an average cost of $1.95 per share, with a total value of $146,250.00.
  • On Monday, November 28th, Wes Cummins bought 30,000 shares of Applied Digital stock. The shares were acquired at an average cost of $1.98 per share, with a total value of $59,400.00.
  • On Friday, November 25th, Wes Cummins acquired 50,000 shares of Applied Digital stock. The stock was purchased at an average cost of $2.24 per share, with a total value of $112,000.00.
  • On Wednesday, November 23rd, Wes Cummins bought 50,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.23 per share, with a total value of $111,500.00.
  • On Friday, November 11th, Wes Cummins purchased 40,000 shares of Applied Digital stock. The shares were acquired at an average price of $2.23 per share, for a total transaction of $89,200.00.
  • On Wednesday, November 9th, Wes Cummins acquired 30,000 shares of Applied Digital stock. The stock was acquired at an average price of $2.14 per share, with a total value of $64,200.00.
  • On Monday, November 7th, Wes Cummins purchased 30,000 shares of Applied Digital stock. The stock was bought at an average price of $2.52 per share, with a total value of $75,600.00.
  • On Monday, October 31st, Wes Cummins acquired 20,000 shares of Applied Digital stock. The shares were bought at an average price of $2.24 per share, for a total transaction of $44,800.00.
  • On Friday, October 28th, Wes Cummins purchased 20,000 shares of Applied Digital stock. The shares were purchased at an average cost of $2.22 per share, for a total transaction of $44,400.00.

Applied Digital Trading Up 2.5 %

Shares of OTCMKTS APLD opened at $2.42 on Friday. Applied Digital Co. has a twelve month low of $0.85 and a twelve month high of $27.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $1.97 and a 200-day simple moving average of $1.95. The stock has a market capitalization of $228.63 million, a PE ratio of -4.84 and a beta of 5.05.

Applied Digital (OTCMKTS:APLDGet Rating) last issued its quarterly earnings data on Monday, January 9th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Applied Digital had a negative return on equity of 24.36% and a negative net margin of 145.35%. The business had revenue of $12.34 million during the quarter, compared to analysts’ expectations of $12.36 million. On average, equities analysts forecast that Applied Digital Co. will post -0.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on APLD shares. Lake Street Capital dropped their price target on shares of Applied Digital from $10.00 to $6.00 in a research note on Wednesday, October 12th. B. Riley lowered their price objective on Applied Digital from $8.00 to $7.00 in a research report on Tuesday, January 10th. Needham & Company LLC cut their target price on Applied Digital from $5.50 to $3.70 and set a “buy” rating for the company in a research note on Friday, January 13th. Finally, HC Wainwright began coverage on Applied Digital in a research note on Thursday, December 22nd. They set a “buy” rating and a $4.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.31.

Institutional Investors Weigh In On Applied Digital

A number of institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in Applied Digital in the fourth quarter valued at $1,719,000. Jane Street Group LLC purchased a new position in Applied Digital in the third quarter valued at $42,000. Alliancebernstein L.P. purchased a new position in Applied Digital in the third quarter valued at $260,000. State Street Corp boosted its holdings in Applied Digital by 54.4% in the third quarter. State Street Corp now owns 340,783 shares of the company’s stock valued at $579,000 after purchasing an additional 120,110 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Applied Digital by 25.6% in the third quarter. Vanguard Group Inc. now owns 36,112 shares of the company’s stock valued at $61,000 after purchasing an additional 7,353 shares during the period. 48.42% of the stock is owned by institutional investors and hedge funds.

About Applied Digital

(Get Rating)

Applied Digital Corp. operates as a technology company, which engages in the development and operation of data centers which provide computing power. The company was founded in May 2001 and is headquartered in Dallas, TX.

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