Noesis Capital Mangement Corp Takes Position in Applied Digital Corporation $APLD

Noesis Capital Mangement Corp bought a new stake in Applied Digital Corporation (NASDAQ:APLD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,000 shares of the company’s stock, valued at approximately $121,000.

A number of other hedge funds have also made changes to their positions in APLD. Situational Awareness LP purchased a new position in shares of Applied Digital in the 1st quarter valued at $22,680,000. Partners Capital Investment Group LLP purchased a new position in shares of Applied Digital in the 1st quarter valued at $8,673,000. Vanguard Group Inc. raised its stake in shares of Applied Digital by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 13,491,013 shares of the company’s stock valued at $75,819,000 after acquiring an additional 730,978 shares during the period. Quantbot Technologies LP raised its stake in shares of Applied Digital by 195.9% in the 1st quarter. Quantbot Technologies LP now owns 877,888 shares of the company’s stock valued at $4,934,000 after acquiring an additional 581,154 shares during the period. Finally, Arete Wealth Advisors LLC raised its stake in shares of Applied Digital by 117.0% in the 1st quarter. Arete Wealth Advisors LLC now owns 1,065,432 shares of the company’s stock valued at $5,988,000 after acquiring an additional 574,485 shares during the period. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APLD. Northland Securities raised their target price on shares of Applied Digital to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research note on Thursday, October 9th. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. HC Wainwright lifted their price target on shares of Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, B. Riley reaffirmed a “buy” rating on shares of Applied Digital in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.20.

Applied Digital Stock Performance

Applied Digital stock opened at $34.42 on Thursday. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of -30.46 and a beta of 6.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.65 and a quick ratio of 0.65. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $40.20. The firm’s fifty day moving average price is $24.03 and its 200 day moving average price is $14.51.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Thursday, October 9th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.08. The company had revenue of $38.01 million during the quarter, compared to analyst estimates of $52.25 million. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. On average, research analysts forecast that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Insider Activity at Applied Digital

In other Applied Digital news, CFO Mohammad Saidal Lavanw Mohmand sold 100,000 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $34.08, for a total transaction of $3,408,000.00. Following the completion of the transaction, the chief financial officer directly owned 158,912 shares of the company’s stock, valued at $5,415,720.96. This trade represents a 38.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Wes Cummins sold 400,000 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $15.26, for a total transaction of $6,104,000.00. Following the transaction, the chief executive officer directly owned 2,659,379 shares of the company’s stock, valued at approximately $40,582,123.54. This represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 702,341 shares of company stock valued at $14,435,562 in the last 90 days. 9.50% of the stock is currently owned by insiders.

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.