1,167,779 Shares in Applied Digital Corporation $APLD Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in Applied Digital Corporation (NASDAQ:APLD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,167,779 shares of the company’s stock, valued at approximately $29,510,000. Hsbc Holdings PLC owned about 0.42% of Applied Digital as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of APLD. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Applied Digital during the 3rd quarter worth approximately $994,000. Vanguard Group Inc. boosted its position in Applied Digital by 23.2% during the 3rd quarter. Vanguard Group Inc. now owns 17,722,174 shares of the company’s stock valued at $406,547,000 after purchasing an additional 3,339,062 shares during the period. Cannon Capital Management Inc. bought a new position in Applied Digital during the 4th quarter worth $3,635,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Applied Digital in the fourth quarter worth $2,674,000. Finally, Azora Capital LP bought a new stake in Applied Digital in the third quarter valued at $3,000,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APLD shares. Lake Street Capital boosted their price target on shares of Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Northland Securities set a $82.00 price objective on shares of Applied Digital and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Citizens Jmp lifted their price objective on shares of Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Thursday, May 21st. B. Riley Financial reissued a “buy” rating and set a $66.00 target price (up from $53.00) on shares of Applied Digital in a research note on Wednesday, May 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a research report on Friday, April 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.56.

Applied Digital Stock Down 7.5%

Shares of Applied Digital stock opened at $41.89 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. Applied Digital Corporation has a 1-year low of $9.02 and a 1-year high of $50.72. The business’s fifty day moving average price is $41.08 and its two-hundred day moving average price is $33.81. The company has a market capitalization of $11.97 billion, a P/E ratio of -56.61 and a beta of 5.69.

Applied Digital (NASDAQ:APLD) last released its quarterly 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 business had revenue of $108.55 million during the quarter, compared to the consensus estimate of $78.47 million. During the same period in the previous year, the company posted ($0.08) EPS. The company’s revenue for the quarter was up 139.3% compared to the same quarter last year. As a group, research analysts forecast that Applied Digital Corporation will post -0.68 EPS for the current year.

Insider Transactions at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the transaction, the director owned 184,859 shares in the company, valued at $6,466,367.82. This represents a 5.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 35,000 shares of company stock valued at $1,182,175 in the last quarter. 9.50% of the stock is currently owned by insiders.

Applied Digital Company Profile

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.