L & S Advisors Inc Purchases New Shares in Applied Digital Co. (NASDAQ:APLD)

L & S Advisors Inc acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 20,500 shares of the company’s stock, valued at approximately $122,000.

A number of other institutional investors and hedge funds have also made changes to their positions in APLD. Headlands Technologies LLC grew its position in Applied Digital by 381.8% in the second quarter. Headlands Technologies LLC now owns 8,749 shares of the company’s stock worth $52,000 after acquiring an additional 6,933 shares in the last quarter. ARS Investment Partners LLC bought a new stake in Applied Digital in the second quarter worth $60,000. Capstone Investment Advisors LLC purchased a new position in Applied Digital during the fourth quarter worth $78,000. Principal Financial Group Inc. bought a new position in Applied Digital during the first quarter valued at $50,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Applied Digital in the fourth quarter valued at $81,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $5.50, for a total value of $55,000.00. Following the transaction, the director now owns 218,506 shares in the company, valued at $1,201,783. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 20.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on APLD shares. Roth Mkm reiterated a “buy” rating and set a $10.00 price target on shares of Applied Digital in a report on Thursday, September 5th. B. Riley raised their price target on Applied Digital from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Applied Digital in a research note on Thursday, August 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research report on Monday, September 9th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $8.40.

Applied Digital Trading Down 1.4 %

Shares of NASDAQ APLD opened at $5.81 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.14. The firm has a market cap of $797.18 million, a PE ratio of -7.35 and a beta of 4.51. The business has a fifty day simple moving average of $4.80 and a two-hundred day simple moving average of $4.41. Applied Digital Co. has a twelve month low of $2.36 and a twelve month high of $8.65.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.29). The business had revenue of $43.70 million for the quarter, compared to the consensus estimate of $42.70 million. Applied Digital had a negative net margin of 88.95% and a negative return on equity of 111.80%. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Analysts expect that Applied Digital Co. will post -1.02 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.