L & S Advisors Inc Invests $122,000 in Applied Digital Co. (NASDAQ:APLD)

L & S Advisors Inc acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,500 shares of the company’s stock, valued at approximately $122,000.

Other large investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC lifted its stake in shares of 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 during the period. Headlands Technologies LLC raised its holdings 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 during the period. Crumly & Associates Inc. purchased a new position in Applied Digital during the second quarter valued at $110,000. Rhumbline Advisers grew its holdings in Applied Digital by 30.0% during the second quarter. Rhumbline Advisers now owns 140,087 shares of the company’s stock valued at $834,000 after purchasing an additional 32,336 shares during the period. Finally, Van ECK Associates Corp increased its position in Applied Digital by 18.3% in the second quarter. Van ECK Associates Corp now owns 2,869,980 shares of the company’s stock worth $17,077,000 after buying an additional 443,699 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Down 1.4 %

APLD stock opened at $5.81 on Wednesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.08 and a quick ratio of 0.08. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $8.65. The business has a 50 day simple moving average of $4.80 and a two-hundred day simple moving average of $4.41. The company has a market capitalization of $797.18 million, a price-to-earnings ratio of -7.35 and a beta of 4.51.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, August 28th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). The company had revenue of $43.70 million for the quarter, compared to the consensus estimate of $42.70 million. Applied Digital had a negative return on equity of 111.80% and a negative net margin of 88.95%. During the same quarter in the prior year, the company posted ($0.07) EPS. Research analysts anticipate that Applied Digital Co. will post -1.02 EPS for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the sale, the director now directly owns 218,506 shares of the company’s stock, valued at $1,201,783. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a research report on Monday, September 9th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a research report on Thursday, September 5th. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Applied Digital in a research note on Thursday, August 29th. Finally, B. Riley lifted their target price on shares of Applied Digital from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $8.40.

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.