Wes Cummins Acquires 25,000 Shares of Applied Digital Co. (OTCMKTS:APLD) Stock

Applied Digital Co. (OTCMKTS:APLDGet Rating) CEO Wes Cummins acquired 25,000 shares of Applied Digital stock in a transaction dated Monday, January 23rd. The shares were bought at an average cost of $2.33 per share, for a total transaction of $58,250.00. Following the completion of the purchase, the chief executive officer now directly owns 1,720,686 shares of the company’s stock, valued at approximately $4,009,198.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

  • On Thursday, January 19th, Wes Cummins bought 25,000 shares of Applied Digital stock. The shares were purchased at an average price of $2.40 per share, with a total value of $60,000.00.
  • On Tuesday, January 17th, Wes Cummins bought 50,000 shares of Applied Digital stock. The shares were purchased at an average price of $2.25 per share, with a total value of $112,500.00.
  • On Thursday, January 12th, Wes Cummins bought 50,000 shares of Applied Digital stock. The shares were purchased at an average price 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 purchased at an average price 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 purchased at an average price of $1.98 per share, with a total value of $59,400.00.
  • On Friday, November 25th, Wes Cummins bought 50,000 shares of Applied Digital stock. The shares were purchased at an average price 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 purchased at an average price of $2.23 per share, with a total value of $111,500.00.
  • On Friday, November 11th, Wes Cummins acquired 40,000 shares of Applied Digital stock. The stock was bought at an average price of $2.23 per share, with a total value of $89,200.00.
  • On Wednesday, November 9th, Wes Cummins acquired 30,000 shares of Applied Digital stock. The stock was bought at an average price of $2.14 per share, with a total value of $64,200.00.
  • On Monday, November 7th, Wes Cummins acquired 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.

Applied Digital Price Performance

Shares of APLD opened at $2.51 on Wednesday. The company has a market capitalization of $237.13 million, a P/E ratio of -5.02 and a beta of 5.05. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $1.97 and a 200 day moving average of $1.99. Applied Digital Co. has a twelve month low of $0.85 and a twelve month high of $27.12.

Applied Digital (OTCMKTS:APLDGet Rating) last announced its quarterly earnings results on Monday, January 9th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $12.34 million during the quarter, compared to the consensus estimate of $12.36 million. Applied Digital had a negative net margin of 145.35% and a negative return on equity of 24.36%. As a group, equities research analysts anticipate that Applied Digital Co. will post -0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied Digital

Institutional investors and hedge funds have recently made changes to their positions in the company. Rock Creek Group LP bought a new stake in shares of Applied Digital during the second quarter valued at approximately $168,000. KCL Capital L.P. bought a new stake in Applied Digital in the 2nd quarter worth approximately $42,000. Penserra Capital Management LLC bought a new stake in Applied Digital in the 3rd quarter worth approximately $76,000. B. Riley Asset Management LLC grew its position in Applied Digital by 13.0% in the 3rd quarter. B. Riley Asset Management LLC now owns 870,686 shares of the company’s stock worth $1,480,000 after purchasing an additional 100,000 shares during the period. Finally, Virtu Financial LLC grew its position in Applied Digital by 89.4% in the 3rd quarter. Virtu Financial LLC now owns 20,516 shares of the company’s stock worth $35,000 after purchasing an additional 9,682 shares during the period. Institutional investors own 48.42% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Applied Digital Company Profile

(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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