KBC Group NV Invests $55,000 in Applied Digital Co. (NASDAQ:APLD)

KBC Group NV purchased a new stake in Applied Digital Co. (NASDAQ:APLD) in the 4th quarter, Holdings Channel reports. The fund purchased 7,196 shares of the company’s stock, valued at approximately $55,000.

A number of other institutional investors have also recently modified their holdings of the business. Flagship Harbor Advisors LLC acquired a new stake in Applied Digital in the fourth quarter valued at $104,000. Exchange Traded Concepts LLC lifted its stake in shares of Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after purchasing an additional 273,666 shares during the period. SG Americas Securities LLC boosted its holdings in Applied Digital by 414.5% during the fourth quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock worth $2,031,000 after buying an additional 214,133 shares in the last quarter. Dakota Wealth Management acquired a new position in Applied Digital during the fourth quarter worth about $115,000. Finally, Nisa Investment Advisors LLC increased its holdings in Applied Digital by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company’s stock valued at $90,000 after buying an additional 1,692 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APLD. Northland Securities boosted their price target on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research report on Wednesday, January 15th. Compass Point began 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. HC Wainwright lifted their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, Cantor Fitzgerald lowered their price objective 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 data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.11.

Insider Buying and Selling at Applied Digital

In other news, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,875,955 shares of the company’s stock, valued at $35,658,786. The trade was a 4.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Nottenburg sold 50,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $9.20, for a total value of $460,000.00. Following the completion of the transaction, the director now directly owns 334,317 shares in the company, valued at $3,075,716.40. This trade represents a 13.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 270,000 shares of company stock worth $2,477,000. Insiders own 11.81% of the company’s stock.

Applied Digital Trading Up 4.1 %

Applied Digital stock opened at $8.11 on Tuesday. The stock has a market cap of $1.81 billion, a PE ratio of -4.69 and a beta of 4.77. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a 50-day moving average price of $8.58 and a 200 day moving average price of $7.19. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $11.25.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $62.41 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. The company’s revenue was up 51.3% on a year-over-year basis. Equities research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

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.