The New York State Common Retirement Fund reduced its holding in Applied Digital Co. (OTCMKTS:APLD – Get Rating) by 62.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The company owned 34,166 shares of the company after selling 57,634 shares during the period. The New York State Common Retirement Fund’s interests in Applied Digital were valued at $58,000 at the time of its most recent filing with the Securities and Exchange Commission.
Several other major investors have recently changed their stock holdings. Advisory Services Network LLC acquired a new interest in Applied Digital valued at approximately $26,000 during the second quarter. Renaissance Technologies LLC acquired a new interest in Applied Digital for approximately $30,000 during the second quarter. Virtu Financial LLC increased its position in Applied Digital by 89.4% in the third quarter. Virtu Financial LLC now owns 20,516 shares of the company’s stock valued at $35,000 after purchasing an additional 9,682 shares last quarter. KCL Capital LP acquired a new interest in Applied Digital valued at approximately $42,000 during the second quarter. Finally, Northern Trust Corp acquired a new stake in Applied Digital valued at approximately $47,000 during the second quarter. 48.42% of the shares are currently held by institutional investors.
Insiders place their bets
In related news, CEO Wes Cummins acquired 25,000 shares of the company’s stock in a transaction on Wednesday, February 15. The shares were purchased at an average price of $3.06 per share for a total transaction of $76,500.00. Following the purchase, the Chief Executive Officer now directly owns 1,945,686 shares of the Company, valued at approximately $5,953,799.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Insiders bought a total of 405,000 shares of the company’s shares last quarter, valued at $997,150. 28.90% of the shares are currently owned by insiders.
Applied digital price history
Shares of APLD opened at $2.62 on Friday. The company has a debt to equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day simple moving average of $2.49 and a 200-day simple moving average of $2.18. Applied Digital Co. has a 52-week low of $0.85 and a 52-week high of $27.12. The company has a market cap of $247.51 million, a PE ratio of -5.24 and a beta of 5.11.
Applied Digital (OTCMKTS:APLD – Get Rating) last released its quarterly results on Monday, January 9th. The company reported earnings per share of ($0.05) for the quarter, beating analyst consensus estimates of ($0.06) by $0.01. Applied Digital had a negative return on equity of 24.36% and a negative net margin of 145.35%. The company had revenue of $12.34 million for the quarter, compared to the consensus estimate of $12.36 million. Sell-side analysts are forecasting that Applied Digital Co. will post -0.38 EPS for the current fiscal year.
Analyst upgrades and downgrades
Several research companies have issued reports on APLD. B. Riley lowered its price target on Applied Digital from $8.00 to $7.00 in a report on Tuesday, January 10th. Needham & Company LLC lowered its price target on Applied Digital to $3.70 from $5.50 and gave the stock a “buy” rating in a report dated Friday, January 13. Finally, on Thursday, December 22nd, HC Wainwright began reporting on Applied Digital. They assigned a “buy” rating and a price target of $4.00 on the stock. Seven equity analysts have given the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $6.31.
About Applied Digital (Get Review)
Applied Digital Corp. is a technology company engaged in the development and operation of data centers that provide computing power. The company was founded in May 2001 and is headquartered in Dallas, TX.
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