Applied Digital Co. (NASDAQ:APLD) Director Sells $460,000.00 in Stock

Applied Digital Co. (NASDAQ:APLDGet Free Report) Director Richard N. Nottenburg sold 50,000 shares of Applied Digital stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total transaction of $460,000.00. Following the sale, the director now directly owns 334,317 shares of the company’s stock, valued at $3,075,716.40. This represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Applied Digital Trading Up 4.6 %

NASDAQ:APLD opened at $10.10 on Friday. The business’s 50-day simple moving average is $7.97 and its 200-day simple moving average is $5.99. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $10.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $2.18 billion, a PE ratio of -8.63 and a beta of 4.65.

Applied Digital (NASDAQ:APLDGet Free Report) last released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.13. Applied Digital had a negative net margin of 74.95% and a negative return on equity of 88.87%. The company had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $54.85 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The business’s quarterly revenue was up 67.2% compared to the same quarter last year. Sell-side analysts expect that Applied Digital Co. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied Digital

A number of large investors have recently added to or reduced their stakes in APLD. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Applied Digital in the third quarter valued at about $59,000. Headlands Technologies LLC raised its position in Applied Digital by 381.8% in the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock valued at $52,000 after buying an additional 6,933 shares during the last quarter. ARS Investment Partners LLC bought a new stake in Applied Digital in the 2nd quarter valued at approximately $60,000. Beacon Harbor Wealth Advisors Inc. acquired a new position in Applied Digital during the 3rd quarter worth approximately $83,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Applied Digital during the 3rd quarter worth approximately $88,000. Institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on APLD shares. HC Wainwright raised their price target on Applied Digital from $5.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. B. Riley boosted their target price on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Lake Street Capital upped their price target on Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Craig Hallum lifted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research note on Thursday, October 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $10.50.

Check Out Our Latest Stock Report on APLD

About Applied Digital

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Applied Digital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Digital and related companies with MarketBeat.com's FREE daily email newsletter.