Key Points
- Applied Digital director Richard Nottenburg sold 75,000 shares at an average price of $31.15, generating $2.34 million. The transaction reduced his ownership by 35.99%, leaving him with 133,378 shares.
- Applied Digital reported mixed quarterly results: revenue surged 406.3% year over year to $240.35 million, but the company posted a $0.39-per-share loss, missing the $0.09 loss consensus estimate.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $68.15, although the stock’s high volatility and elevated debt-to-equity ratio remain notable risks.
Applied Digital Corporation (NASDAQ:APLD - Get Free Report) Director Richard Nottenburg sold 75,000 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $31.15, for a total value of $2,336,250.00. Following the completion of the sale, the director owned 133,378 shares of the company's stock, valued at approximately $4,154,724.70. This represents a 35.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Applied Digital Stock Performance
Shares of Applied Digital stock opened at $28.86 on Friday. The business has a 50-day simple moving average of $35.84 and a 200 day simple moving average of $34.13. Applied Digital Corporation has a one year low of $13.16 and a one year high of $50.72. The company has a debt-to-equity ratio of 2.88, a current ratio of 4.01 and a quick ratio of 4.01. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of -32.43 and a beta of 5.75.
Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.30). The firm had revenue of $240.35 million during the quarter, compared to the consensus estimate of $96.85 million. Applied Digital had a negative return on equity of 16.42% and a negative net margin of 37.78%.The firm's revenue was up 406.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, research analysts anticipate that Applied Digital Corporation will post -0.98 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Applied Digital
Institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. boosted its holdings in Applied Digital by 8.6% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company's stock worth $93,000 after acquiring an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Applied Digital by 1.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company's stock worth $523,000 after acquiring an additional 318 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Applied Digital by 3.6% in the fourth quarter. Brookstone Capital Management now owns 9,275 shares of the company's stock valued at $227,000 after purchasing an additional 321 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Applied Digital by 4.6% in the fourth quarter. Independent Advisor Alliance now owns 9,215 shares of the company's stock valued at $226,000 after purchasing an additional 407 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Applied Digital by 28.5% during the second quarter. GAMMA Investing LLC now owns 2,092 shares of the company's stock valued at $78,000 after purchasing an additional 464 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently issued reports on APLD. Wall Street Zen cut Applied Digital from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Zacks Research upgraded shares of Applied Digital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. B. Riley Financial restated a "buy" rating and set a $75.00 price objective (up from $66.00) on shares of Applied Digital in a report on Monday. Roth Capital reaffirmed a "buy" rating and issued a $65.00 price objective on shares of Applied Digital in a research note on Thursday, April 23rd. Finally, Northland Securities set a $82.00 price objective on shares of Applied Digital and gave the company an "outperform" rating in a report on Wednesday, June 17th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Applied Digital currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.15.
View Our Latest Stock Report on Applied Digital
Applied Digital Company Profile
(
Get Free Report)
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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