SBI Securities Co. Ltd. Reduces Holdings in Applied Digital Corporation $APLD

SBI Securities Co. Ltd. lowered its position in Applied Digital Corporation (NASDAQ:APLD) by 53.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 19,506 shares of the company’s stock after selling 22,394 shares during the period. SBI Securities Co. Ltd.’s holdings in Applied Digital were worth $447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dagco Inc. purchased a new position in shares of Applied Digital in the third quarter worth about $27,000. Evolution Wealth Management Inc. raised its holdings in Applied Digital by 101.8% in the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock valued at $37,000 after acquiring an additional 807 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Applied Digital by 124.9% in the 3rd quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock worth $41,000 after purchasing an additional 1,002 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Applied Digital by 51.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock worth $53,000 after purchasing an additional 787 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Applied Digital in the second quarter valued at approximately $25,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insider Buying and Selling

In related news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $38.54, for a total value of $385,400.00. Following the completion of the transaction, the director owned 200,859 shares in the company, valued at $7,741,105.86. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Nottenburg sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the transaction, the director owned 233,378 shares of the company’s stock, valued at $8,273,250.10. This trade represents a 4.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 244,593 shares of company stock worth $9,003,278 in the last quarter. Company insiders own 9.50% of the company’s stock.

Applied Digital Trading Up 25.5%

NASDAQ APLD opened at $34.95 on Friday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of -64.72 and a beta of 7.25. The firm has a 50 day simple moving average of $31.16 and a 200-day simple moving average of $25.43. Applied Digital Corporation has a one year low of $3.31 and a one year high of $42.27.

Applied Digital (NASDAQ:APLD) last released its earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). The business had revenue of $126.59 million for the quarter, compared to analyst estimates of $82.22 million. Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.Applied Digital’s quarterly revenue was up 250.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.06) earnings per share. Equities research analysts anticipate that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on APLD. Northland Securities set a $56.00 target price on Applied Digital in a report on Wednesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $41.00 price target on shares of Applied Digital in a research report on Thursday, January 8th. B. Riley Financial raised their price objective on shares of Applied Digital to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Arete Research began coverage on shares of Applied Digital in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of Applied Digital from a “sell” rating to a “hold” rating in a research note on Saturday, January 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Applied Digital currently has a consensus rating of “Buy” and a consensus price target of $34.73.

About Applied Digital

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.