Applied Digital Co. (NASDAQ:APLD) Shares Bought by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL raised its position in Applied Digital Co. (NASDAQ:APLD) by 48.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,118 shares of the company’s stock after purchasing an additional 5,596 shares during the period. Chesapeake Capital Corp IL’s holdings in Applied Digital were worth $131,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of APLD. Victory Capital Management Inc. boosted its stake in shares of Applied Digital by 72.5% during the third quarter. Victory Capital Management Inc. now owns 19,535 shares of the company’s stock valued at $161,000 after acquiring an additional 8,212 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Applied Digital during the 3rd quarter valued at about $115,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Applied Digital by 36.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after buying an additional 240,554 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Applied Digital by 14.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 43,064 shares of the company’s stock valued at $355,000 after buying an additional 5,423 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in shares of Applied Digital during the 3rd quarter valued at about $283,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insider Transactions at Applied Digital

In related news, Director Richard N. Nottenburg sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares in the company, valued at $3,034,868.55. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 11.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Northland Securities raised their target price on Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Cantor Fitzgerald dropped their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a report on Monday, February 24th. HC Wainwright raised their price objective on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, Compass Point initiated coverage on Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Applied Digital presently has an average rating of “Buy” and a consensus price target of $12.11.

Applied Digital Price Performance

Shares of APLD opened at $7.01 on Wednesday. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -4.05 and a beta of 4.69. The stock has a 50 day moving average of $8.01 and a 200-day moving average of $7.90. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $12.48.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business’s revenue was up 51.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, analysts forecast that Applied Digital Co. will post -0.96 EPS for the current 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.