Applied Digital Corporation (NASDAQ:APLD - Get Free Report) Director Richard Nottenburg sold 12,500 shares of the stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $32.00, for a total transaction of $400,000.00. Following the transaction, the director owned 220,878 shares in the company, valued at approximately $7,068,096. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Applied Digital Price Performance
APLD opened at $34.25 on Friday. The company's 50 day simple moving average is $28.28 and its 200 day simple moving average is $30.08. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. Applied Digital Corporation has a 1 year low of $4.62 and a 1 year high of $42.27. The stock has a market capitalization of $9.79 billion, a PE ratio of -46.28 and a beta of 7.25.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The company had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. During the same period in the prior year, the business posted ($0.08) earnings per share. Applied Digital's revenue was up 139.3% on a year-over-year basis. As a group, sell-side analysts expect that Applied Digital Corporation will post -0.52 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of APLD. AQR Capital Management LLC raised its holdings in Applied Digital by 84.8% in the first quarter. AQR Capital Management LLC now owns 18,945 shares of the company's stock valued at $106,000 after buying an additional 8,692 shares during the period. NewEdge Advisors LLC raised its holdings in Applied Digital by 239.1% in the first quarter. NewEdge Advisors LLC now owns 33,267 shares of the company's stock valued at $187,000 after buying an additional 23,457 shares during the period. Geneos Wealth Management Inc. raised its holdings in Applied Digital by 113.3% in the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company's stock valued at $37,000 after buying an additional 3,542 shares during the period. Strs Ohio purchased a new position in Applied Digital in the first quarter valued at approximately $71,000. Finally, Cetera Investment Advisers raised its holdings in Applied Digital by 61.0% in the second quarter. Cetera Investment Advisers now owns 61,656 shares of the company's stock valued at $621,000 after buying an additional 23,360 shares during the period. Hedge funds and other institutional investors own 65.67% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on APLD shares. Texas Capital raised shares of Applied Digital to a "strong-buy" rating in a research report on Tuesday, January 20th. Northland Securities set a $56.00 target price on shares of Applied Digital in a research report on Wednesday, January 28th. Zacks Research cut shares of Applied Digital from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 8th. Citigroup reissued an "outperform" rating on shares of Applied Digital in a research report on Wednesday, January 28th. Finally, Arete Research started coverage on shares of Applied Digital in a research report on Wednesday, January 7th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.33.
Get Our Latest Stock Analysis on Applied Digital
About Applied Digital
(
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Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital's modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.
In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.
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