Xponance Inc. Makes New $106,000 Investment in Applied Digital Co. (NASDAQ:APLD)

Xponance Inc. purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD) in the 4th quarter, Holdings Channel reports. The fund purchased 13,882 shares of the company’s stock, valued at approximately $106,000.

Other large investors have also recently modified their holdings of the company. Intech Investment Management LLC increased its holdings in Applied Digital by 304.5% during the 4th quarter. Intech Investment Management LLC now owns 56,612 shares of the company’s stock worth $433,000 after purchasing an additional 42,616 shares during the period. Evoke Wealth LLC purchased a new position in shares of Applied Digital during the fourth quarter valued at $183,000. Cibc World Markets Corp bought a new stake in shares of Applied Digital in the fourth quarter valued at about $137,000. Commonwealth Equity Services LLC lifted its stake in Applied Digital by 55.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 106,270 shares of the company’s stock worth $812,000 after acquiring an additional 37,742 shares during the period. Finally, Swiss National Bank grew its holdings in Applied Digital by 29.1% during the 4th quarter. Swiss National Bank now owns 338,800 shares of the company’s stock worth $2,588,000 after acquiring an additional 76,300 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Activity

In other news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s 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 directly owns 342,923 shares in the company, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 11.81% of the company’s stock.

Applied Digital Trading Down 6.2 %

Shares of NASDAQ:APLD opened at $5.72 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market capitalization of $1.28 billion, a P/E ratio of -3.31 and a beta of 4.69. The business’s 50-day moving average is $7.76 and its 200 day moving average is $8.00. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $12.48.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The firm had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. Applied Digital’s revenue was up 51.3% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on APLD shares. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Northland Securities upped their target price on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. HC Wainwright lifted their price target on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Cantor Fitzgerald dropped their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.11.

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.