Traders Buy Large Volume of Applied Digital Put Options (NASDAQ:APLD)

Applied Digital Co. (NASDAQ:APLDGet Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors bought 14,542 put options on the stock. This is an increase of 102% compared to the typical volume of 7,185 put options.

Insider Transactions at Applied Digital

In other news, Director Virginia Moore sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $4.74, for a total value of $142,200.00. Following the completion of the sale, the director now directly owns 148,630 shares of the company’s stock, valued at $704,506.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 23.70% of the company’s stock.

Institutional Trading of Applied Digital

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Applied Digital in the third quarter worth $74,000. Register Financial Advisors LLC boosted its holdings in shares of Applied Digital by 14,390.0% in the third quarter. Register Financial Advisors LLC now owns 144,900 shares of the company’s stock worth $904,000 after acquiring an additional 143,900 shares during the period. Equitec Proprietary Markets LLC boosted its holdings in shares of Applied Digital by 234.3% in the third quarter. Equitec Proprietary Markets LLC now owns 808,812 shares of the company’s stock worth $5,047,000 after acquiring an additional 566,898 shares during the period. Exchange Traded Concepts LLC boosted its stake in Applied Digital by 73.6% during the third quarter. Exchange Traded Concepts LLC now owns 639,482 shares of the company’s stock valued at $3,990,000 after buying an additional 271,197 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Applied Digital during the third quarter valued at $68,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC decreased their price target on Applied Digital from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 18th.

Read Our Latest Analysis on Applied Digital

Applied Digital Stock Performance

NASDAQ:APLD opened at $3.82 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.18 and a quick ratio of 0.18. The business has a fifty day simple moving average of $4.53 and a two-hundred day simple moving average of $5.25. Applied Digital has a 1 year low of $2.06 and a 1 year high of $11.62. The company has a market capitalization of $466.19 million, a P/E ratio of -10.91 and a beta of 4.12.

Applied Digital (NASDAQ:APLDGet Free Report) last released its earnings results on Tuesday, January 16th. The company reported ($0.10) earnings per share (EPS) for the quarter. Applied Digital had a negative return on equity of 31.26% and a negative net margin of 28.94%. The firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $54.78 million. On average, analysts expect that Applied Digital will post -0.35 earnings per share for the current year.

About Applied Digital

(Get Free Report)

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.

Further Reading

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