SG Americas Securities LLC Has $547,000 Position in Applied Digital Corporation $APLD

SG Americas Securities LLC boosted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 47.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,343 shares of the company’s stock after acquiring an additional 17,440 shares during the period. SG Americas Securities LLC’s holdings in Applied Digital were worth $547,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APLD. Atlantic Union Bankshares Corp acquired a new position in shares of Applied Digital in the second quarter valued at $25,000. Ameriflex Group Inc. bought a new stake in shares of Applied Digital during the 2nd quarter worth about $42,000. PNC Financial Services Group Inc. acquired a new position in Applied Digital in the 1st quarter valued at about $28,000. Geneos Wealth Management Inc. raised its holdings in Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after acquiring an additional 3,542 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Applied Digital during the second quarter worth approximately $66,000. 65.67% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Applied Digital news, Director Richard N. Nottenburg sold 34,375 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $33.23, for a total transaction of $1,142,281.25. Following the completion of the transaction, the director directly owned 263,612 shares in the company, valued at $8,759,826.76. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ella G. Benson sold 42,569 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $35.30, for a total value 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 represents a 38.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 823,035 shares of company stock valued at $18,930,179 over the last three months. 9.50% of the stock is owned by corporate insiders.

Applied Digital Stock Performance

NASDAQ:APLD opened at $24.94 on Thursday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of -22.07 and a beta of 6.77. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a fifty day moving average price of $28.36 and a 200-day moving average price of $17.67.

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

Analyst Upgrades and Downgrades

APLD has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a report on Wednesday, October 8th. Craig Hallum upped their price objective on Applied Digital to $39.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. Wall Street Zen cut shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. Finally, Lake Street Capital upped their price target on shares of Applied Digital from $18.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Applied Digital has an average rating of “Moderate Buy” and an average target price 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.