World Investment Advisors Takes Position in Applied Digital Corporation $APLD

World Investment Advisors acquired a new stake in Applied Digital Corporation (NASDAQ:APLD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,169 shares of the company’s stock, valued at approximately $598,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in Applied Digital in the 4th quarter valued at approximately $25,000. Albion Financial Group UT acquired a new position in shares of Applied Digital during the fourth quarter worth $25,000. Activest Wealth Management acquired a new position in shares of Applied Digital during the fourth quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Applied Digital in the fourth quarter worth $25,000. Finally, McMillan Office Inc. acquired a new stake in Applied Digital in the fourth quarter valued at $25,000. 65.67% of the stock is owned by institutional investors.

Insider Activity at Applied Digital

In other Applied Digital news, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the transaction, the director directly owned 208,378 shares in the company, valued at approximately $7,207,795.02. This represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the sale, the director directly owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 35,000 shares of company stock worth $1,182,175. Insiders own 9.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on APLD shares. Citizens Jmp raised their target price on Applied Digital from $40.00 to $60.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 21st. Needham & Company LLC upped their price target on Applied Digital from $66.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Wall Street Zen cut Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Compass Point restated a “buy” rating and set a $70.00 price objective on shares of Applied Digital in a research report on Friday, May 22nd. Finally, Northland Securities set a $82.00 target price on Applied Digital and gave the company an “outperform” rating in a report on Wednesday, June 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.56.

Applied Digital Trading Down 3.5%

Applied Digital stock traded down $1.14 during trading hours on Friday, reaching $31.15. 12,334,934 shares of the company’s stock were exchanged, compared to its average volume of 17,969,796. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.65. The firm’s 50 day simple moving average is $41.61 and its 200 day simple moving average is $34.34. Applied Digital Corporation has a twelve month low of $9.02 and a twelve month high of $50.72. The firm has a market capitalization of $8.90 billion, a PE ratio of -42.09 and a beta of 5.67.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The business had revenue of $108.55 million for the quarter, compared to the consensus estimate of $78.47 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 139.3% on a year-over-year basis. Research analysts predict that Applied Digital Corporation will post -0.7 earnings per share for the current year.

About Applied Digital

Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.

In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.