Quadrature Capital Ltd Invests $545,000 in Applied Digital Co. (NASDAQ:APLD)

Quadrature Capital Ltd purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLDFree Report) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 66,250 shares of the company’s stock, valued at approximately $545,000.

Other hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC lifted its position in Applied Digital by 8.7% during the 2nd quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company’s stock valued at $57,098,000 after acquiring an additional 771,699 shares during the period. Van ECK Associates Corp grew its holdings in Applied Digital by 18.3% in the second quarter. Van ECK Associates Corp now owns 2,869,980 shares of the company’s stock worth $17,077,000 after purchasing an additional 443,699 shares during the period. Royce & Associates LP increased its stake in shares of Applied Digital by 1.4% during the third quarter. Royce & Associates LP now owns 1,132,140 shares of the company’s stock valued at $9,340,000 after purchasing an additional 15,763 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Applied Digital by 36.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Applied Digital by 66.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 774,655 shares of the company’s stock worth $4,609,000 after purchasing an additional 308,223 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $8.01, for a total value of $80,100.00. Following the transaction, the director now owns 208,506 shares of the company’s stock, valued at approximately $1,670,133.06. This trade represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Nottenburg sold 80,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $7.37, for a total transaction of $589,600.00. Following the sale, the director now directly owns 433,686 shares of the company’s stock, valued at approximately $3,196,265.82. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 359,369 shares of company stock worth $3,115,161. Insiders own 11.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $10.00 price objective on shares of Applied Digital in a research note on Thursday, October 10th. HC Wainwright upped their price target on shares of Applied Digital from $5.00 to $10.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Lake Street Capital raised their price objective on shares of Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. B. Riley upped their target price on shares of Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Finally, Craig Hallum increased their price target on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital currently has a consensus rating of “Buy” and a consensus price target of $10.50.

Check Out Our Latest Stock Analysis on Applied Digital

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $10.67 on Monday. The business has a 50-day simple moving average of $8.20 and a two-hundred day simple moving average of $6.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -9.12 and a beta of 4.67. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $11.25.

Applied Digital (NASDAQ:APLDGet Free Report) last released its quarterly earnings data 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 firm had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $54.85 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was up 67.2% on a year-over-year basis. On average, analysts expect that Applied Digital Co. will post -0.4 earnings per share for the current year.

About Applied Digital

(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.

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Institutional Ownership by Quarter for Applied Digital (NASDAQ:APLD)

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