Applied Digital Co. (NASDAQ:APLD) Director Sells $55,000.00 in Stock

Applied Digital Co. (NASDAQ:APLD) Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the completion of the transaction, the director now owns 218,506 shares in the company, valued at $1,201,783. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Applied Digital Stock Performance

Shares of APLD opened at $5.87 on Thursday. The company’s 50 day moving average price is $4.85 and its 200 day moving average price is $4.36. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $8.65. The company has a market capitalization of $805.42 million, a PE ratio of -7.43 and a beta of 4.51. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. The company had revenue of $43.70 million for the quarter, compared to analysts’ expectations of $42.70 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. Research analysts expect that Applied Digital Co. will post -1.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on APLD shares. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Applied Digital in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research report on Thursday, September 5th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research report on Monday. Finally, B. Riley boosted their price objective on Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital presently has an average rating of “Buy” and a consensus target price of $8.20.

Institutional Trading of Applied Digital

A number of institutional investors have recently added to or reduced their stakes in APLD. Point72 Asset Management L.P. bought a new stake in shares of Applied Digital during the 2nd quarter worth $1,451,000. B. Riley Wealth Advisors Inc. increased its position in shares of Applied Digital by 66.1% during 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. The Manufacturers Life Insurance Company increased its position in shares of Applied Digital by 25.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,641 shares of the company’s stock worth $224,000 after purchasing an additional 7,517 shares in the last quarter. Alight Capital Management LP acquired a new stake in shares of Applied Digital during the 2nd quarter worth about $3,570,000. Finally, Marshall Wace LLP acquired a new stake in Applied Digital in the 2nd quarter valued at about $720,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Company 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.