DnB Asset Management AS Buys Shares of 20,745 Applied Digital Co. (NASDAQ:APLD)

DnB Asset Management AS bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 20,745 shares of the company’s stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of APLD. Vontobel Holding Ltd. increased its stake in Applied Digital by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company’s stock worth $128,000 after purchasing an additional 1,500 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Applied Digital by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company’s stock worth $90,000 after purchasing an additional 1,692 shares during the last quarter. Wilmington Savings Fund Society FSB increased its stake in Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock worth $31,000 after buying an additional 2,000 shares during the period. Wellington Management Group LLP lifted its holdings in Applied Digital by 8.8% during the 3rd quarter. Wellington Management Group LLP now owns 37,411 shares of the company’s stock valued at $309,000 after buying an additional 3,040 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Applied Digital by 113.3% in the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company’s stock valued at $50,000 after buying an additional 3,473 shares during the period. 65.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction dated 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. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 11.81% of the stock is owned by company insiders.

Applied Digital Stock Performance

APLD stock opened at $6.24 on Thursday. Applied Digital Co. has a one year low of $2.36 and a one year high of $12.48. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -3.61 and a beta of 4.69. 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 firm has a 50-day simple moving average of $7.56 and a two-hundred day simple moving average of $8.00.

Applied Digital (NASDAQ:APLD) last posted its earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $63.87 million during the quarter, compared to analysts’ expectations of $62.41 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Applied Digital’s revenue for the quarter was up 51.3% compared to the same quarter last year. On average, equities analysts forecast that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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