13,824 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,824 shares of the company’s stock, valued at approximately $106,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its stake in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock valued at $31,000 after acquiring an additional 2,000 shares during the period. R Squared Ltd acquired a new position in shares of Applied Digital during the 4th quarter valued at $36,000. US Bancorp DE bought a new stake in shares of Applied Digital in the 4th quarter worth $37,000. Jones Financial Companies Lllp bought a new position in Applied Digital during the fourth quarter valued at about $39,000. Finally, Spire Wealth Management acquired a new position in Applied Digital during the fourth quarter worth about $43,000. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Performance

Shares of APLD stock opened at $7.07 on Friday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -4.09 and a beta of 4.69. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $12.48. 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’s fifty day simple moving average is $7.93 and its 200-day simple moving average is $7.94.

Applied Digital (NASDAQ:APLD) last issued its earnings results 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. The company had revenue of $63.87 million for the quarter, compared to the consensus estimate of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm’s quarterly revenue was up 51.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, sell-side analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $8.85, for a total value of $177,000.00. Following the transaction, the director now directly owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.81% of the company’s stock.

Analysts Set New Price Targets

APLD has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Cantor Fitzgerald reduced their target price on shares of Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. HC Wainwright upped 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. Northland Securities raised their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Finally, Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.11.

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.