Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC increased its position in shares of Applied Digital Co. (NASDAQ:APLD) by 13,394.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 70,578 shares of the company’s stock after acquiring an additional 70,055 shares during the quarter. Headlands Technologies LLC’s holdings in Applied Digital were worth $539,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB grew its stake in shares of Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock valued at $31,000 after buying an additional 2,000 shares during the period. R Squared Ltd purchased a new position in Applied Digital in the fourth quarter worth approximately $36,000. US Bancorp DE acquired a new stake in Applied Digital during the fourth quarter worth $37,000. Jones Financial Companies Lllp purchased a new stake in Applied Digital in the fourth quarter valued at $39,000. Finally, Spire Wealth Management acquired a new position in shares of Applied Digital in the 4th quarter valued at $43,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on APLD. Northland Securities raised their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Cantor Fitzgerald reduced their price target on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Compass Point assumed coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a report on Monday, February 24th. Finally, HC Wainwright upped their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.11.

Applied Digital Stock Down 9.3 %

Applied Digital stock opened at $5.66 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of -3.27 and a beta of 5.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $12.48. The stock’s fifty day simple moving average is $7.48 and its 200-day simple moving average is $7.98.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. Applied Digital’s revenue was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. As a group, equities analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the sale, the director now directly owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.81% of the company’s stock.

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.