33,875 Shares in Applied Digital Corporation $APLD Bought by Global Retirement Partners LLC

Global Retirement Partners LLC purchased a new position in Applied Digital Corporation (NASDAQ:APLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 33,875 shares of the company’s stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Scientech Research LLC bought a new stake in Applied Digital in the 1st quarter worth $806,000. Chelsea Counsel Co. purchased a new stake in shares of Applied Digital during the second quarter worth about $582,000. Lake Hills Wealth Management LLC bought a new stake in shares of Applied Digital in the second quarter worth about $184,000. KLP Kapitalforvaltning AS increased its holdings in Applied Digital by 27.7% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 41,500 shares of the company’s stock valued at $418,000 after purchasing an additional 9,000 shares during the period. Finally, Kovack Advisors Inc. purchased a new position in Applied Digital during the 2nd quarter valued at about $116,000. 65.67% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on APLD. Craig Hallum increased their price objective on Applied Digital to $39.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. HC Wainwright raised their target price on shares of Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. B. Riley reissued a “buy” rating on shares of Applied Digital in a research note on Wednesday, October 22nd. Needham & Company LLC restated a “buy” rating and issued a $41.00 price objective on shares of Applied Digital in a report on Wednesday, October 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.20.

Insider Transactions at Applied Digital

In related news, Director Chuck Hastings sold 25,000 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $34.27, for a total transaction of $856,750.00. Following the sale, the director directly owned 426,612 shares of the company’s stock, valued at approximately $14,619,993.24. This represents a 5.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mohammad Saidal Lavanw Mohmand sold 37,503 shares of the firm’s stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $36.47, for a total transaction of $1,367,734.41. Following the sale, the chief financial officer owned 121,409 shares of the company’s stock, valued at approximately $4,427,786.23. This represents a 23.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 823,035 shares of company stock valued at $18,930,179. 9.50% of the stock is currently owned by corporate insiders.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $27.10 on Monday. The company has a 50 day simple moving average of $28.59 and a two-hundred day simple moving average of $18.04. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of -23.98 and a beta of 6.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.65.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.08. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The firm had revenue of $64.22 million for the quarter, compared to analysts’ expectations of $52.25 million. During the same period in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts expect that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

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.