27,695 Shares in Applied Digital Corporation $APLD Bought by FWG Holdings LLC

FWG Holdings LLC bought a new position in shares of Applied Digital Corporation (NASDAQ:APLD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 27,695 shares of the company’s stock, valued at approximately $635,000.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in shares of Applied Digital by 24,356.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock valued at $52,561,000 after acquiring an additional 5,198,223 shares during the last quarter. Situational Awareness LP increased its position in shares of Applied Digital by 63.3% in the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock worth $66,379,000 after purchasing an additional 2,556,200 shares during the last quarter. HRT Financial LP bought a new position in shares of Applied Digital in the second quarter worth approximately $14,759,000. Voya Investment Management LLC raised its stake in Applied Digital by 403.4% in the third quarter. Voya Investment Management LLC now owns 1,464,909 shares of the company’s stock valued at $33,605,000 after purchasing an additional 1,173,929 shares in the last quarter. Finally, Shellback Capital LP bought a new stake in Applied Digital during the second quarter valued at approximately $9,063,000. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Down 0.9%

Shares of NASDAQ:APLD opened at $34.74 on Friday. The stock has a market capitalization of $9.71 billion, a P/E ratio of -64.33 and a beta of 6.89. The stock’s 50-day moving average price is $28.48 and its 200-day moving average price is $23.37. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.79. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $40.20.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Applied Digital had a negative net margin of 43.49% and a negative return on equity of 13.53%. The company had revenue of $126.59 million for the quarter, compared to analysts’ expectations of $82.22 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company’s revenue was up 250.1% compared to the same quarter last year. On average, equities analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Insider Activity

In other Applied Digital news, Director Chuck Hastings sold 25,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $34.27, for a total transaction of $856,750.00. Following the completion of the sale, the director owned 426,612 shares of the company’s stock, valued at $14,619,993.24. This represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction of $1,502,685.70. Following the completion of the sale, the director directly owned 69,256 shares in the company, valued at approximately $2,444,736.80. This trade represents a 38.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 368,053 shares of company stock valued at $13,251,886. Corporate insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on APLD shares. Lake Street Capital reissued a “buy” rating and issued a $45.00 price target on shares of Applied Digital in a report on Tuesday, December 30th. Needham & Company LLC reiterated a “buy” rating and issued a $41.00 target price on shares of Applied Digital in a research report on Thursday, January 8th. Wall Street Zen upgraded Applied Digital from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Applied Digital in a report on Wednesday, October 8th. Finally, Texas Capital upgraded Applied Digital to a “strong-buy” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $33.27.

Applied Digital Company Profile

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.