Equitec Proprietary Markets LLC lessened its position in shares of Applied Digital Co. (OTCMKTS:APLD – Free Report) by 64.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,914 shares of the company’s stock after selling 441,355 shares during the period. Applied Digital makes up about 0.7% of Equitec Proprietary Markets LLC’s holdings, making the stock its 11th biggest position. Equitec Proprietary Markets LLC owned 0.25% of Applied Digital worth $2,262,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Applied Digital by 1,020.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,335,798 shares of the company’s stock worth $2,458,000 after buying an additional 1,216,617 shares in the last quarter. B. Riley Asset Management LLC raised its position in Applied Digital by 63.7% during the fourth quarter. B. Riley Asset Management LLC now owns 1,425,686 shares of the company’s stock valued at $2,623,000 after purchasing an additional 555,000 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in Applied Digital during the fourth quarter worth about $377,000. Trellus Management Company LLC purchased a new position in shares of Applied Digital in the 1st quarter worth about $213,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Applied Digital during the 1st quarter valued at about $222,000. 53.75% of the stock is owned by institutional investors.
Analyst Ratings Changes
APLD has been the subject of several recent research reports. Northland Securities boosted their price target on shares of Applied Digital from $5.00 to $11.00 in a research note on Friday, May 26th. Lake Street Capital upped their price target on shares of Applied Digital from $9.00 to $16.00 in a research report on Monday, July 17th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Applied Digital in a research report on Tuesday, July 25th. Finally, Needham & Company LLC upped their price target on shares of Applied Digital from $16.00 to $17.50 and gave the company a “buy” rating in a research report on Tuesday, July 25th.
Insider Transactions at Applied Digital
In other news, Director Richard N. Nottenburg sold 14,820 shares of Applied Digital stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $7.74, for a total transaction of $114,706.80. Following the transaction, the director now owns 180,001 shares in the company, valued at approximately $1,393,207.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 28.90% of the company’s stock.
Applied Digital Trading Down 5.7 %
OTCMKTS:APLD opened at $4.96 on Tuesday. The company’s 50 day moving average price is $7.04 and its 200-day moving average price is $5.91. Applied Digital Co. has a 52 week low of $1.45 and a 52 week high of $11.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.10. The stock has a market cap of $515.59 million, a price-to-earnings ratio of -10.12 and a beta of 4.17.
Applied Digital (OTCMKTS:APLD – Get Free Report) last issued its earnings results on Monday, July 24th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Applied Digital had a negative return on equity of 61.59% and a negative net margin of 80.60%. The company had revenue of $22.04 million during the quarter, compared to analysts’ expectations of $22.01 million. On average, equities research analysts forecast that Applied Digital Co. will post 0.41 earnings per share for the current fiscal year.
About Applied Digital
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.
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