Traders Buy Large Volume of Applied Digital Put Options (NASDAQ:APLD)

Applied Digital Co. (NASDAQ:APLDGet Free Report) was the target of some unusual options trading activity on Tuesday. Stock investors acquired 14,542 put options on the stock. This is an increase of approximately 102% compared to the average volume of 7,185 put options.

Insider Activity

In related news, Director Virginia Moore sold 30,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total transaction of $142,200.00. Following the sale, the director now owns 148,630 shares of the company’s stock, valued at $704,506.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 23.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in APLD. Capital Research Global Investors lifted its position in shares of Applied Digital by 427.2% in the 4th quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock worth $49,453,000 after buying an additional 5,945,559 shares during the last quarter. Oasis Management Co Ltd. increased its stake in Applied Digital by 23.6% during the 4th quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock valued at $33,216,000 after buying an additional 940,075 shares during the period. Equitec Proprietary Markets LLC grew its stake in shares of Applied Digital by 415.4% in the 4th quarter. Equitec Proprietary Markets LLC now owns 4,168,657 shares of the company’s stock worth $28,097,000 after purchasing an additional 3,359,845 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Applied Digital by 8.8% in the 4th quarter. Vanguard Group Inc. now owns 3,628,588 shares of the company’s stock worth $24,457,000 after purchasing an additional 293,046 shares during the last quarter. Finally, Nokomis Capital L.L.C. grew its stake in shares of Applied Digital by 129.2% in the 4th quarter. Nokomis Capital L.L.C. now owns 2,940,955 shares of the company’s stock worth $19,822,000 after purchasing an additional 1,658,003 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Performance

Shares of APLD opened at $3.82 on Wednesday. The company has a 50-day moving average of $4.53 and a two-hundred day moving average of $5.25. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.45. The stock has a market cap of $466.19 million, a P/E ratio of -10.91 and a beta of 4.12. Applied Digital has a 12-month low of $2.06 and a 12-month high of $11.62.

Applied Digital (NASDAQ:APLDGet Free Report) last announced its earnings results on Tuesday, January 16th. The company reported ($0.10) earnings per share for the quarter. The firm had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $54.78 million. Applied Digital had a negative net margin of 28.94% and a negative return on equity of 31.26%. As a group, research analysts predict that Applied Digital will post -0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Needham & Company LLC cut their target price on shares of Applied Digital from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 18th.

Check Out Our Latest Research Report on Applied Digital

Applied Digital Company Profile

(Get 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.

Further Reading

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