SeaCrest Wealth Management LLC Purchases 4,107 Shares of Applied Digital Co. (NASDAQ:APLD)

SeaCrest Wealth Management LLC raised its position in shares of Applied Digital Co. (NASDAQ:APLD) by 5.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,847 shares of the company’s stock after purchasing an additional 4,107 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Applied Digital were worth $454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of APLD. Hood River Capital Management LLC boosted its holdings in shares of Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company’s stock valued at $115,726,000 after acquiring an additional 1,464,854 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock valued at $97,487,000 after acquiring an additional 3,587,619 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company’s stock valued at $36,117,000 after acquiring an additional 1,665,335 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock valued at $33,649,000 after acquiring an additional 2,344,572 shares during the last quarter. Finally, Pertento Partners LLP boosted its holdings in shares of Applied Digital by 49.0% during the 4th quarter. Pertento Partners LLP now owns 2,528,717 shares of the company’s stock valued at $19,319,000 after acquiring an additional 831,705 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on APLD shares. Roth Capital reaffirmed a “buy” rating on shares of Applied Digital in a report on Monday, June 2nd. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a report on Monday, June 2nd. Citizens Jmp raised shares of Applied Digital to a “strong-buy” rating and set a $12.00 price objective on the stock in a report on Thursday, May 22nd. JMP Securities raised their price objective on shares of Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a report on Tuesday, June 3rd. Finally, HC Wainwright raised their price objective on shares of Applied Digital from $7.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $12.45.

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $13.86 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. Applied Digital Co. has a 1-year low of $3.01 and a 1-year high of $15.42. The company has a market capitalization of $3.11 billion, a P/E ratio of -8.01 and a beta of 6.09. The firm’s 50 day simple moving average is $6.15 and its two-hundred day simple moving average is $7.54.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The firm had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. During the same period in the prior year, the firm earned ($0.24) EPS. Research analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of Applied Digital stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total transaction of $169,484.00. Following the transaction, the director now owns 83,613 shares of the company’s stock, valued at $585,291. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.81% of the company’s stock.

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.