Wealth Enhancement Advisory Services LLC Buys New Holdings in Applied Digital Co. (NASDAQ:APLD)

Wealth Enhancement Advisory Services LLC bought a new stake in Applied Digital Co. (NASDAQ:APLD) during the third quarter, HoldingsChannel reports. The fund bought 10,651 shares of the company’s stock, valued at approximately $88,000.

A number of other large investors have also recently bought and sold shares of APLD. Headlands Technologies LLC boosted its position in Applied Digital by 381.8% in the 2nd quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock worth $52,000 after purchasing an additional 6,933 shares in the last quarter. ARS Investment Partners LLC purchased a new stake in Applied Digital in the 2nd quarter worth approximately $60,000. Crumly & Associates Inc. purchased a new stake in Applied Digital in the 2nd quarter worth approximately $110,000. ICA Group Wealth Management LLC boosted its position in Applied Digital by 56.8% in the 2nd quarter. ICA Group Wealth Management LLC now owns 18,750 shares of the company’s stock worth $112,000 after purchasing an additional 6,795 shares in the last quarter. Finally, L & S Advisors Inc purchased a new stake in Applied Digital in the 2nd quarter worth approximately $122,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Activity at Applied Digital

In related news, Director Richard N. Nottenburg sold 80,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the transaction, the director now directly owns 433,686 shares of the company’s stock, valued at approximately $3,196,265.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Digital news, Director Richard N. Nottenburg sold 80,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the sale, the director now directly owns 433,686 shares of the company’s stock, valued at $3,196,265.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the completion of the sale, the director now directly owns 218,506 shares of the company’s stock, valued at $1,201,783. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,369 shares of company stock valued at $870,161. 11.81% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on APLD shares. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Thursday, October 10th. Lake Street Capital upped their target price on Applied Digital from $7.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research note on Friday, November 1st. Craig Hallum upped their target price on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, B. Riley upped their target price on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $10.50.

Applied Digital Stock Down 5.5 %

NASDAQ APLD opened at $7.17 on Thursday. The business has a fifty day moving average price of $7.13 and a 200 day moving average price of $5.50. Applied Digital Co. has a one year low of $2.36 and a one year high of $9.48. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market cap of $1.54 billion, a P/E ratio of -6.13 and a beta of 4.65.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.13. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $54.85 million. During the same period in the prior year, the company earned ($0.10) EPS. The firm’s revenue was up 67.2% compared to the same quarter last year. Research analysts anticipate that Applied Digital Co. will post -0.4 EPS 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.