Calamos Advisors LLC Grows Holdings in Applied Digital Co. (NASDAQ:APLD)

Calamos Advisors LLC grew its position in shares of Applied Digital Co. (NASDAQ:APLD) by 127.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,715 shares of the company’s stock after buying an additional 70,001 shares during the quarter. Calamos Advisors LLC owned 0.10% of Applied Digital worth $841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APLD. Equitec Proprietary Markets LLC lifted its holdings in Applied Digital by 234.3% during the third quarter. Equitec Proprietary Markets LLC now owns 808,812 shares of the company’s stock worth $5,047,000 after acquiring an additional 566,898 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Applied Digital by 73.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 639,482 shares of the company’s stock worth $3,990,000 after purchasing an additional 271,197 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Applied Digital in the 3rd quarter worth about $68,000. Trellus Management Company LLC grew its position in Applied Digital by 5.4% during the third quarter. Trellus Management Company LLC now owns 80,000 shares of the company’s stock valued at $499,000 after buying an additional 4,126 shares during the period. Finally, Redmond Asset Management LLC bought a new position in Applied Digital during the third quarter valued at about $633,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Up 3.3 %

APLD opened at $2.47 on Monday. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.62. The company has a market cap of $303.17 million, a PE ratio of -3.13 and a beta of 4.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $3.97 and a 200 day moving average of $4.99.

Analyst Ratings Changes

Several brokerages have commented on APLD. B. Riley lowered their price objective on shares of Applied Digital from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Roth Mkm lowered their price target on shares of Applied Digital from $13.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Lake Street Capital reduced their price objective on Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, Needham & Company LLC lowered their target price on Applied Digital from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital presently has a consensus rating of “Buy” and an average target price of $9.20.

Insiders Place Their Bets

In related news, Director Virginia Moore sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $4.74, for a total transaction of $142,200.00. Following the sale, the director now directly owns 148,630 shares in the company, valued at approximately $704,506.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 23.70% of the company’s stock.

Applied Digital 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.