Applied Digital Corporation (NASDAQ:APLD) Shares Bought by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. boosted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 13.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,581 shares of the company’s stock after buying an additional 3,593 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Applied Digital were worth $172,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Applied Digital by 29.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 13,778 shares of the company’s stock valued at $77,000 after buying an additional 3,127 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in Applied Digital by 5.4% during the first quarter. SeaCrest Wealth Management LLC now owns 80,847 shares of the company’s stock worth $454,000 after buying an additional 4,107 shares in the last quarter. HighTower Advisors LLC lifted its position in Applied Digital by 34.7% in the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company’s stock worth $123,000 after buying an additional 4,162 shares in the last quarter. Smith Moore & CO. lifted its position in Applied Digital by 13.8% in the 4th quarter. Smith Moore & CO. now owns 37,000 shares of the company’s stock worth $283,000 after buying an additional 4,500 shares in the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Applied Digital by 27.4% during the fourth quarter. OneDigital Investment Advisors LLC now owns 23,664 shares of the company’s stock valued at $181,000 after buying an additional 5,096 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on APLD. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research note on Monday, June 2nd. JMP Securities raised their target price on shares of Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a research note on Tuesday, June 3rd. Roth Capital reiterated a “buy” rating on shares of Applied Digital in a research note on Monday, June 2nd. Compass Point reaffirmed a “neutral” rating and set a $13.00 price target (up from $10.00) on shares of Applied Digital in a report on Monday, June 9th. Finally, HC Wainwright boosted their target price 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. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $12.73.

Insiders Place Their Bets

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of Applied Digital stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the sale, the director directly owned 83,613 shares of the company’s stock, valued at approximately $585,291. The trade was a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.81% of the stock is owned by corporate insiders.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $10.91 on Friday. The company has a fifty day moving average price of $9.42 and a 200 day moving average price of $7.80. Applied Digital Corporation has a 1-year low of $3.01 and a 1-year high of $15.42. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56. The firm has a market cap of $2.46 billion, a PE ratio of -7.96 and a beta of 6.04.

Applied Digital (NASDAQ:APLD) last released 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 109.99% and a negative return on equity of 77.49%. The company had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. During the same period in the prior year, the company earned ($0.24) earnings per share. Research analysts predict that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Applied Digital Company 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.