10,400 Shares in Applied Digital Co. (NASDAQ:APLD) Bought by Compass Ion Advisors LLC

Compass Ion Advisors LLC bought a new stake in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,400 shares of the company’s stock, valued at approximately $79,000.

Several other institutional investors have also recently bought and sold shares of the business. Xponance Inc. bought a new position in shares of Applied Digital in the 4th quarter valued at $106,000. Intech Investment Management LLC raised its position in Applied Digital by 304.5% in the fourth quarter. Intech Investment Management LLC now owns 56,612 shares of the company’s stock valued at $433,000 after purchasing an additional 42,616 shares during the last quarter. Evoke Wealth LLC acquired a new stake in shares of Applied Digital during the fourth quarter valued at about $183,000. Cibc World Markets Corp bought a new stake in shares of Applied Digital during the fourth quarter worth about $137,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Applied Digital by 55.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 106,270 shares of the company’s stock valued at $812,000 after buying an additional 37,742 shares during the period. Institutional investors and hedge funds own 65.67% of the company’s stock.

Applied Digital Price Performance

Applied Digital stock opened at $7.26 on Thursday. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -4.20 and a beta of 4.69. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $12.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The stock’s 50 day moving average price is $7.98 and its two-hundred day moving average price is $7.89.

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

Insider Activity

In related news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction 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 transaction, the director now directly owns 342,923 shares in the company, valued at $3,034,868.55. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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