Applied Digital (NASDAQ:APLD) CFO Sells $1,367,734.41 in Stock

Applied Digital Corporation (NASDAQ:APLD) CFO Mohammad Saidal Lavanw Mohmand sold 37,503 shares of the company’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $36.47, for a total value of $1,367,734.41. Following the sale, the chief financial officer owned 121,409 shares of the company’s stock, valued at approximately $4,427,786.23. The trade was a 23.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Mohammad Saidal Lavanw Mohmand also recently made the following trade(s):

• On Friday, October 24th, Mohammad Saidal Lavanw Mohmand sold 100,000 shares of Applied Digital stock. The stock was sold at an average price of $34.08, for a total value of $3,408,000.00.
• On Wednesday, September 3rd, Mohammad Saidal Lavanw Mohmand sold 75,000 shares of Applied Digital stock. The stock was sold at an average price of $15.26, for a total value of $1,144,500.00.

Applied Digital Stock Down 1.4%

Shares of Applied Digital stock opened at $33.95 on Friday. Applied Digital Corporation has a twelve month low of $3.31 and a twelve month high of $40.20. The stock has a market cap of $9.50 billion, a price-to-earnings ratio of -30.04 and a beta of 6.77. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $24.39 and a 200 day moving average price of $14.65.

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

Hedge Funds Weigh In On Applied Digital

A number of large investors have recently bought and sold shares of APLD. Wealth Enhancement Advisory Services LLC lifted its holdings in Applied Digital by 29.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,778 shares of the company’s stock worth $77,000 after acquiring an additional 3,127 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Applied Digital in the first quarter worth about $223,000. Clear Creek Financial Management LLC bought a new position in Applied Digital in the first quarter worth about $282,000. Acuitas Investments LLC acquired a new stake in shares of Applied Digital in the first quarter valued at approximately $2,639,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Applied Digital in the first quarter valued at approximately $139,000. Institutional investors own 65.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $41.00 price objective on shares of Applied Digital in a research note on Wednesday. B. Riley restated a “buy” rating on shares of Applied Digital in a research note on Wednesday, October 22nd. Lake Street Capital boosted their price objective on Applied Digital from $18.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. HC Wainwright boosted their price objective on Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Citigroup restated an “outperform” rating on shares of Applied Digital in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Applied Digital has an average rating of “Moderate Buy” and an average target price of $26.20.

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.