Evoke Wealth LLC Makes New $183,000 Investment in Applied Digital Co. (NASDAQ:APLD)

Evoke Wealth LLC bought a new position in Applied Digital Co. (NASDAQ:APLD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 23,992 shares of the company’s stock, valued at approximately $183,000.

Several other large investors have also added to or reduced their stakes in APLD. Van ECK Associates Corp boosted its stake in Applied Digital by 113.8% in the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock worth $33,649,000 after purchasing an additional 2,344,572 shares during the period. Geode Capital Management LLC boosted its position in shares of Applied Digital by 48.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock valued at $25,258,000 after acquiring an additional 1,002,862 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Applied Digital by 100.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company’s stock valued at $13,740,000 after acquiring an additional 899,138 shares during the last quarter. Barclays PLC boosted its position in shares of Applied Digital by 736.8% during the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after acquiring an additional 428,428 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Applied Digital during the 4th quarter valued at about $3,056,000. Institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

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

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.08. The business had revenue of $63.87 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. Analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other 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 transaction, the director now directly owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on APLD shares. HC Wainwright lifted their price target on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald dropped 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. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Applied Digital in a research report on Monday, February 24th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $12.11.

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.