Mohammad Saidal Lavanw Mohmand Sells 100,000 Shares of Applied Digital (NASDAQ:APLD) Stock

Applied Digital Corporation (NASDAQ:APLD) CFO Mohammad Saidal Lavanw Mohmand sold 100,000 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $34.08, for a total value of $3,408,000.00. Following the completion of the transaction, the chief financial officer directly owned 158,912 shares of the company’s stock, valued at approximately $5,415,720.96. This trade represents a 38.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mohammad Saidal Lavanw Mohmand also recently made the following trade(s):

• On Tuesday, October 28th, Mohammad Saidal Lavanw Mohmand sold 37,503 shares of Applied Digital stock. The stock was sold at an average price of $36.47, for a total value of $1,367,734.41.
• On Wednesday, September 3rd, Mohammad Saidal Lavanw Mohmand sold 75,000 shares of Applied Digital stock. The stock was sold at an average price of $15.26, for a total value of $1,144,500.00.

Applied Digital Stock Performance

NASDAQ APLD opened at $34.42 on Thursday. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of -30.46 and a beta of 6.77. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $24.03 and a 200-day moving average price of $14.51. Applied Digital Corporation has a twelve month low of $3.31 and a twelve month high of $40.20.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Thursday, October 9th. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. The firm had revenue of $38.01 million during the quarter, compared to analyst estimates of $52.25 million. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. As a group, equities research analysts predict that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APLD. Atlantic Union Bankshares Corp purchased a new stake in Applied Digital during the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Applied Digital during the second quarter valued at approximately $26,000. Dagco Inc. purchased a new stake in Applied Digital during the third quarter valued at approximately $27,000. PNC Financial Services Group Inc. purchased a new stake in Applied Digital during the first quarter valued at approximately $28,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Applied Digital by 101.8% in the third quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after buying an additional 807 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Compass Point assumed coverage on Applied Digital in a research report on Monday, September 15th. They issued a “buy” rating on the stock. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a research report on Wednesday, October 8th. B. Riley reiterated a “buy” rating on shares of Applied Digital in a research report on Wednesday, October 22nd. Finally, Craig Hallum boosted their target price on Applied Digital to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Applied Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Applied Digital Company Profile

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.