Jade Capital Advisors LLC Acquires New Holdings in Applied Digital Co. (NASDAQ:APLD)

Jade Capital Advisors LLC purchased a new stake in Applied Digital Co. (NASDAQ:APLD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 28,559 shares of the company’s stock, valued at approximately $236,000.

Several other large investors have also recently modified their holdings of APLD. Principal Financial Group Inc. bought a new stake in Applied Digital in the first quarter valued at approximately $50,000. Headlands Technologies LLC lifted its position in shares of 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. ARS Investment Partners LLC acquired a new stake in shares of Applied Digital during the second quarter worth $60,000. Price T Rowe Associates Inc. MD raised its stake in Applied Digital by 15.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,018 shares of the company’s stock worth $103,000 after buying an additional 3,182 shares during the last quarter. Finally, Crumly & Associates Inc. bought a new stake in Applied Digital during the second quarter valued at $110,000. Institutional investors own 65.67% of the company’s stock.

Insiders Place Their Bets

In other news, Director Richard N. Nottenburg sold 80,000 shares of the stock in a transaction dated Monday, October 14th. The shares were 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 owns 433,686 shares in the company, valued at $3,196,265.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $8.01, for a total value of $80,100.00. Following the sale, the director now directly owns 208,506 shares in the company, valued at $1,670,133.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard N. Nottenburg sold 80,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were 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 owns 433,686 shares in the company, valued at $3,196,265.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $724,700 in the last three months. 20.50% of the stock is currently owned by insiders.

Applied Digital Stock Up 6.5 %

Applied Digital stock opened at $8.71 on Tuesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -11.03 and a beta of 4.56. The firm’s fifty day moving average price is $6.02 and its two-hundred day moving average price is $4.97. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $8.87. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.14.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.13. Applied Digital had a negative return on equity of 107.05% and a negative net margin of 74.95%. The business had revenue of $60.70 million during the quarter, compared to the consensus estimate of $54.85 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was up 67.2% on a year-over-year basis. On average, equities research analysts predict that Applied Digital Co. will post -1.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on APLD. Lake Street Capital upped their target price on Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. B. Riley raised their price objective on shares of Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a research note on Thursday, October 17th. Craig Hallum increased their target price on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, HC Wainwright lifted their price target on shares of Applied Digital from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Digital currently has an average rating of “Buy” and an average target price of $10.50.

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.