Mirae Asset Global Investments Co. Ltd. Acquires 536,948 Shares of Applied Digital Co. (NASDAQ:APLD)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Applied Digital Co. (NASDAQ:APLDFree Report) by 69.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,311,594 shares of the company’s stock after buying an additional 536,948 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 1.07% of Applied Digital worth $5,614,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Capital Research Global Investors increased its holdings in Applied Digital by 427.2% in the 4th quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock worth $49,453,000 after buying an additional 5,945,559 shares in the last quarter. Oasis Management Co Ltd. boosted its position in Applied Digital by 23.6% in the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock worth $33,216,000 after purchasing an additional 940,075 shares during the last quarter. Equitec Proprietary Markets LLC boosted its position in Applied Digital by 1.4% in the first quarter. Equitec Proprietary Markets LLC now owns 4,228,125 shares of the company’s stock worth $18,096,000 after purchasing an additional 59,468 shares during the last quarter. Vanguard Group Inc. boosted its position in Applied Digital by 40.6% in the third quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company’s stock worth $20,814,000 after purchasing an additional 963,390 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Applied Digital by 92.1% in the first quarter. Van ECK Associates Corp now owns 2,426,281 shares of the company’s stock worth $10,384,000 after purchasing an additional 1,163,247 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Up 7.1 %

APLD stock opened at $5.86 on Thursday. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $11.07. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90. The stock has a market cap of $804.04 million, a P/E ratio of -7.42 and a beta of 4.56. The business’s 50-day moving average price is $4.77 and its 200-day moving average price is $4.71.

Applied Digital (NASDAQ:APLDGet Free Report) last posted its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.40). Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. The business had revenue of $43.35 million during the quarter, compared to the consensus estimate of $50.36 million. On average, equities research analysts forecast that Applied Digital Co. will post -1.03 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on APLD. Roth Mkm reissued a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price objective on shares of Applied Digital in a research report on Wednesday, June 12th. B. Riley lifted their price objective on Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Lake Street Capital lowered their price objective on Applied Digital from $19.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $8.40.

Get Our Latest Analysis on APLD

Applied Digital Company Profile

(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.

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Institutional Ownership by Quarter for Applied Digital (NASDAQ:APLD)

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