Royce & Associates LP Has $9.34 Million Stock Holdings in Applied Digital Co. (NASDAQ:APLD)

Royce & Associates LP grew its position in Applied Digital Co. (NASDAQ:APLD) by 1.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,132,140 shares of the company’s stock after purchasing an additional 15,763 shares during the period. Royce & Associates LP’s holdings in Applied Digital were worth $9,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Applied Digital by 70.2% in the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock worth $26,434,000 after purchasing an additional 2,547,485 shares during the period. Hood River Capital Management LLC grew its position in shares of 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 worth $57,098,000 after buying an additional 771,699 shares during the period. Alight Capital Management LP bought a new stake in shares of Applied Digital during the second quarter worth approximately $3,570,000. Van ECK Associates Corp lifted 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 valued at $17,077,000 after buying an additional 443,699 shares during the period. Finally, Thomist Capital Management LP bought a new position in Applied Digital in the second quarter valued at approximately $2,529,000. Institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

APLD has been the subject of several recent research reports. Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Applied Digital in a research report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research note on Friday, November 1st. Lake Street Capital boosted their target price on Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. HC Wainwright increased their price target on shares of Applied Digital from $5.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Digital presently has an average rating of “Buy” and an average target price of $10.50.

Insider Activity at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the sale, the director now owns 218,506 shares of the company’s stock, valued at approximately $1,201,783. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Nottenburg sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the sale, the director now owns 433,686 shares in the company, valued at $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 have sold 119,369 shares of company stock valued at $870,161. 11.81% of the stock is owned by corporate insiders.

Applied Digital Stock Up 5.4 %

NASDAQ:APLD opened at $7.23 on Monday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -6.18 and a beta of 4.65. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $5.57. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $9.48.

Applied Digital (NASDAQ:APLD) last posted its earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $54.85 million. During the same period in the prior year, the business earned ($0.10) EPS. Applied Digital’s revenue for the quarter was up 67.2% compared to the same quarter last year. As a group, equities analysts expect that Applied Digital Co. will post -0.4 earnings per share for the current year.

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.