Intech Investment Management LLC Raises Holdings in Applied Digital Co. (NASDAQ:APLD)

Intech Investment Management LLC boosted its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 304.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,612 shares of the company’s stock after acquiring an additional 42,616 shares during the quarter. Intech Investment Management LLC’s holdings in Applied Digital were worth $433,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Applied Digital by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Applied Digital in the third quarter valued at $545,000. Rhumbline Advisers raised its position in shares of Applied Digital by 68.7% in the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock worth $1,978,000 after acquiring an additional 105,428 shares during the period. Exchange Traded Concepts LLC boosted its stake 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 in the last quarter. Finally, Barclays PLC grew its position in shares of Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after acquiring an additional 428,428 shares during the period. 65.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.81% of the stock is owned by corporate insiders.

Applied Digital Price Performance

Shares of APLD opened at $7.99 on Tuesday. The firm has a 50-day simple moving average of $7.94 and a two-hundred day simple moving average of $8.00. The stock has a market cap of $1.78 billion, a PE ratio of -4.62 and a beta of 4.69. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $12.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77.

Applied Digital (NASDAQ:APLD) last announced its earnings results 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 return on equity of 117.67% and a negative net margin of 127.86%. The company had revenue of $63.87 million for the quarter, compared to analyst estimates of $62.41 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The firm’s quarterly revenue was up 51.3% compared to the same quarter last year. As a group, analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HC Wainwright increased their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald dropped their target price 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. Compass Point began coverage on Applied Digital in a research report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Applied Digital in a research report on Monday, February 24th. Finally, Northland Securities upped their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $12.11.

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.