HighTower Advisors LLC Boosts Stake in Applied Digital Co. (NASDAQ:APLD)

HighTower Advisors LLC boosted its position in shares of Applied Digital Co. (NASDAQ:APLD) by 34.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,162 shares of the company’s stock after buying an additional 4,162 shares during the period. HighTower Advisors LLC’s holdings in Applied Digital were worth $123,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 240,554 shares during the last quarter. Quadrature Capital Ltd bought a new position in Applied Digital during the third quarter valued at $545,000. Rhumbline Advisers lifted its position in Applied Digital by 68.7% during the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock valued at $1,978,000 after purchasing an additional 105,428 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock worth $7,656,000 after buying an additional 273,666 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after buying an additional 428,428 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Down 13.1 %

NASDAQ APLD opened at $4.92 on Friday. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $12.48. The company’s 50-day moving average price is $7.40 and its 200-day moving average price is $7.97. The stock has a market cap of $1.10 billion, a PE ratio of -2.84 and a beta of 5.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping 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 analyst estimates of $62.41 million. During the same period last year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 51.3% compared to the same quarter last year. Equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $8.85, for a total transaction of $177,000.00. Following the transaction, the director now owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. This trade represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.81% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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