Applied Digital Co. (NASDAQ:APLD) Shares Sold by Portolan Capital Management LLC

Portolan Capital Management LLC cut its holdings in shares of Applied Digital Co. (NASDAQ:APLD) by 45.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 365,398 shares of the company’s stock after selling 306,856 shares during the quarter. Portolan Capital Management LLC owned about 0.16% of Applied Digital worth $2,792,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of APLD. Wilmington Savings Fund Society FSB boosted its holdings in shares of Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock worth $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd acquired a new position in Applied Digital during the fourth quarter worth $36,000. US Bancorp DE purchased a new stake in Applied Digital in the 4th quarter valued at $37,000. Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital in the 4th quarter worth $39,000. Finally, Spire Wealth Management purchased a new position in shares of Applied Digital during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Up 1.5 %

APLD opened at $5.37 on Tuesday. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $12.48. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The business has a fifty day simple moving average of $7.10 and a 200-day simple moving average of $7.90. The firm has a market cap of $1.20 billion, a P/E ratio of -3.10 and a beta of 5.18.

Applied Digital (NASDAQ:APLD) last announced 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. The company had revenue of $63.87 million during 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%. Applied Digital’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period last year, the business posted ($0.05) EPS. On average, equities analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insider Transactions at Applied Digital

In other news, Director Richard N. Nottenburg sold 20,000 shares of the company’s stock in a transaction 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 sale, the director now owns 342,923 shares of the company’s stock, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Northland Securities upped their price objective on shares of 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 restated a “buy” rating and set a $11.00 price target on shares of Applied Digital in a report on Monday, February 24th. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Cantor Fitzgerald cut their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Finally, HC Wainwright upped their price target on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital currently has a consensus rating of “Buy” and an average 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.