AGP Franklin LLC Purchases Shares of 136,848 Applied Digital Corporation $APLD

AGP Franklin LLC acquired a new position in Applied Digital Corporation (NASDAQ:APLD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 136,848 shares of the company’s stock, valued at approximately $3,139,000. Applied Digital comprises about 1.5% of AGP Franklin LLC’s holdings, making the stock its 24th largest holding.

Other large investors have also recently modified their holdings of the company. Hood River Capital Management LLC boosted its stake in Applied Digital by 2.8% in the second quarter. Hood River Capital Management LLC now owns 21,859,031 shares of the company’s stock valued at $220,120,000 after acquiring an additional 592,314 shares in the last quarter. Situational Awareness LP lifted its holdings in shares of Applied Digital by 63.3% during the 2nd quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock valued at $66,379,000 after purchasing an additional 2,556,200 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Applied Digital by 24,356.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after purchasing an additional 5,198,223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Applied Digital by 24.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,661,296 shares of the company’s stock worth $26,799,000 after buying an additional 514,896 shares during the last quarter. Finally, HRT Financial LP acquired a new position in Applied Digital during the 2nd quarter valued at about $14,759,000. Institutional investors own 65.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Freedom Capital upgraded Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 6th. Texas Capital raised shares of Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Wall Street Zen raised shares of Applied Digital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Roth Mkm upped their target price on Applied Digital to $58.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $33.27.

Applied Digital Stock Performance

Shares of NASDAQ APLD opened at $41.35 on Wednesday. Applied Digital Corporation has a 1 year low of $3.31 and a 1 year high of $42.10. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82. The company has a market capitalization of $11.56 billion, a PE ratio of -76.57 and a beta of 6.89. The company’s fifty day moving average price is $29.40 and its 200 day moving average price is $24.18.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The business had revenue of $126.59 million during the quarter, compared to analyst estimates of $82.22 million. During the same period in the previous year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 250.1% compared to the same quarter last year. On average, research analysts predict that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Insider Activity at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $38.54, for a total transaction of $385,400.00. Following the completion of the sale, the director owned 200,859 shares of the company’s stock, valued at $7,741,105.86. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Chuck Hastings sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $34.27, for a total value of $856,750.00. Following the completion of the transaction, the director owned 426,612 shares in the company, valued at approximately $14,619,993.24. This trade represents a 5.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 237,981 shares of company stock worth $8,596,966 over the last 90 days. 9.50% of the stock is owned by insiders.

About Applied Digital

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.