Healthcare of Ontario Pension Plan Trust Fund Grows Position in Applied Digital Corporation $APLD

Healthcare of Ontario Pension Plan Trust Fund raised its position in Applied Digital Corporation (NASDAQ:APLD) by 13.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 646,051 shares of the company’s stock after purchasing an additional 75,964 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.23% of Applied Digital worth $15,337,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APLD. Newbridge Financial Services Group Inc. grew its stake in shares of Applied Digital by 8.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company’s stock valued at $93,000 after buying an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in Applied Digital by 1.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company’s stock valued at $523,000 after acquiring an additional 318 shares during the period. Brookstone Capital Management grew its position in Applied Digital by 3.6% in the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company’s stock valued at $227,000 after acquiring an additional 321 shares during the last quarter. Independent Advisor Alliance grew its position in Applied Digital by 4.6% in the 4th quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock valued at $226,000 after acquiring an additional 407 shares during the last quarter. Finally, Vermillion Wealth Management Inc. increased its stake in Applied Digital by 29.4% in the first quarter. Vermillion Wealth Management Inc. now owns 2,563 shares of the company’s stock worth $61,000 after purchasing an additional 583 shares during the period. Institutional investors own 65.67% of the company’s stock.

Applied Digital News Roundup

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital reported fourth-quarter revenue of approximately $240.4 million to $258.7 million, substantially above analyst estimates near $96 million. Depending on the source’s reporting period and calculation, revenue increased roughly 581% year over year or more than quadrupled. Reuters article
• Positive Sentiment: The company reported non-GAAP earnings of $0.04 per share, beating the consensus estimate of a $0.09 per-share loss. The result reinforces the potential for improving profitability as Applied Digital scales its AI infrastructure operations. MarketBeat earnings report
• Positive Sentiment: Applied Digital said its HPC Hosting business began operations at the first HPC data center at its Polaris Forge 1 campus. The launch generated approximately $270.6 million in tenant fit-out services, highlighting strong customer demand and the potential for additional AI-related infrastructure revenue. Applied Digital Q2 results
• Positive Sentiment: Reports highlighted an approximately $20 billion backlog and robust demand from AI customers, including CoreWeave. The backlog improves visibility into future data-center development and hosting revenue, though execution and financing will determine how quickly it converts into sales. Stocktwits backlog report

Wall Street Analyst Weigh In

APLD has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Roth Capital restated a “buy” rating and issued a $65.00 target price on shares of Applied Digital in a research note on Thursday, April 23rd. Zacks Research lowered shares of Applied Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research note on Tuesday, July 21st. Finally, B. Riley Financial reiterated a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.15.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director owned 208,378 shares in the company, valued at $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

Applied Digital Stock Down 3.0%

NASDAQ:APLD opened at $26.38 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. Applied Digital Corporation has a 1-year low of $9.79 and a 1-year high of $50.72. The company has a 50-day moving average of $38.54 and a 200 day moving average of $34.54. The firm has a market cap of $7.54 billion, a PE ratio of -35.65 and a beta of 5.67.

Applied Digital (NASDAQ:APLD) last posted its earnings results on Monday, July 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.30). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business had revenue of $240.35 million for the quarter, compared to analysts’ expectations of $96.85 million. During the same period last year, the business posted ($0.24) EPS. The company’s revenue for the quarter was up 406.3% on a year-over-year basis. As a group, research analysts anticipate that Applied Digital Corporation will post -0.7 EPS for the current fiscal year.

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.