Applied Digital Corporation $APLD Shares Purchased by Bulltick Wealth Management LLC

Bulltick Wealth Management LLC grew its stake in Applied Digital Corporation (NASDAQ:APLD) by 71.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,900 shares of the company’s stock after purchasing an additional 77,000 shares during the period. Bulltick Wealth Management LLC owned approximately 0.07% of Applied Digital worth $1,862,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new position in Applied Digital in the 2nd quarter valued at $25,000. PNC Financial Services Group Inc. purchased a new stake in shares of Applied Digital in the first quarter valued at about $28,000. Geneos Wealth Management Inc. increased its stake in shares of Applied Digital by 113.3% during the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock worth $37,000 after acquiring an additional 3,542 shares during the period. Ameriflex Group Inc. purchased a new position in Applied Digital during the second quarter worth about $42,000. Finally, CWM LLC lifted its position in Applied Digital by 116.5% in the first quarter. CWM LLC now owns 9,506 shares of the company’s stock valued at $53,000 after purchasing an additional 5,116 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Stock Up 2.6%

Applied Digital stock opened at $23.65 on Monday. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -20.93 and a beta of 6.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.65. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The stock’s fifty day moving average is $27.50 and its two-hundred day moving average is $16.76.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Thursday, October 9th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The business had revenue of $64.22 million for the quarter, compared to analyst estimates of $52.25 million. During the same period in the previous year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts predict that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Rachel H. Lee sold 24,213 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $33.20, for a total value of $803,871.60. Following the sale, the director owned 59,400 shares of the company’s stock, valued at approximately $1,972,080. This represents a 28.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ella G. Benson sold 42,569 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $35.30, for a total value of $1,502,685.70. Following the transaction, the director directly owned 69,256 shares of the company’s stock, valued at $2,444,736.80. The trade was a 38.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 823,035 shares of company stock valued at $18,930,179. Corporate insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. HC Wainwright boosted their target price on Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Northland Securities upped their price objective on Applied Digital to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Craig Hallum raised their target price on Applied Digital to $39.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen lowered shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $26.20.

About Applied Digital

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.