Flagship Harbor Advisors LLC Buys New Holdings in Applied Digital Co. (NASDAQ:APLD)

Flagship Harbor Advisors LLC purchased a new position in shares of Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,550 shares of the company’s stock, valued at approximately $104,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its holdings in shares of Applied Digital by 37.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock worth $7,656,000 after acquiring an additional 273,666 shares during the last quarter. SG Americas Securities LLC boosted its position in Applied Digital by 414.5% during the fourth quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock worth $2,031,000 after purchasing an additional 214,133 shares during the period. Dakota Wealth Management bought a new position in Applied Digital during the fourth quarter worth $115,000. Nisa Investment Advisors LLC raised its position in shares of Applied Digital by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company’s stock valued at $90,000 after purchasing an additional 1,692 shares during the period. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Applied Digital during the 4th quarter worth about $586,000. Institutional investors own 65.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on APLD shares. Lake Street Capital upped their price target on shares of Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Applied Digital in a report on Wednesday, January 15th. Craig Hallum upped their price target on shares of Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald cut their price objective on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.13.

Applied Digital Trading Up 10.3 %

APLD opened at $7.38 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $11.25. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -4.27 and a beta of 4.78. The company has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $7.09.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $63.87 million for the quarter, compared to analysts’ expectations of $62.41 million. During the same period last year, the firm posted ($0.05) earnings per share. The firm’s quarterly revenue was up 51.3% compared to the same quarter last year. Analysts predict that Applied Digital Co. will post -0.8 EPS for the current fiscal year.

Insider Activity

In related news, Director Richard N. Nottenburg sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total transaction of $460,000.00. Following the sale, the director now owns 334,317 shares of the company’s stock, valued at $3,075,716.40. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total value of $1,840,000.00. Following the sale, the chief executive officer now owns 3,875,955 shares in the company, valued at $35,658,786. This represents a 4.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 289,369 shares of company stock worth $2,622,461. Corporate insiders own 11.81% of the company’s stock.

Applied Digital 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.