Arete Wealth Advisors LLC Takes $3.76 Million Position in Applied Digital Co. (NASDAQ:APLD)

Arete Wealth Advisors LLC purchased a new position in Applied Digital Co. (NASDAQ:APLD) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 490,947 shares of the company’s stock, valued at approximately $3,757,000. Arete Wealth Advisors LLC owned approximately 0.22% of Applied Digital as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Applied Digital Stock Up 2.5 %

APLD stock opened at $6.24 on Thursday. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.61 and a beta of 4.69. The business’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $8.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.08. The company had revenue of $63.87 million during the quarter, compared to analysts’ expectations of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. On average, equities analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the sale, the director now directly owns 342,923 shares in the company, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.81% of the company’s stock.

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.