Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Chesapeake Capital Corp IL

Chesapeake Capital Corp IL boosted its holdings in Applied Digital Co. (NASDAQ:APLD) by 48.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,118 shares of the company’s stock after purchasing an additional 5,596 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Applied Digital were worth $131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Applied Digital by 36.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after purchasing an additional 240,554 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Applied Digital in the third quarter valued at approximately $545,000. Rhumbline Advisers boosted its holdings in Applied Digital by 68.7% in the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company’s stock valued at $1,978,000 after purchasing an additional 105,428 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after purchasing an additional 428,428 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. HC Wainwright boosted their price objective on Applied Digital from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Applied Digital in a research note on Monday, February 24th. Cantor Fitzgerald reduced their price objective on Applied Digital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Northland Securities boosted their price objective on Applied Digital from $12.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Finally, Compass Point assumed coverage on Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.11.

Applied Digital Price Performance

Applied Digital stock opened at $7.01 on Wednesday. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $12.48. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The business has a 50 day simple moving average of $8.01 and a 200-day simple moving average of $7.90. The stock has a market capitalization of $1.56 billion, a PE ratio of -4.05 and a beta of 4.69.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Tuesday, January 14th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.08. The business had revenue of $63.87 million during the quarter, compared to analysts’ expectations of $62.41 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The company’s quarterly revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Equities analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current year.

Insiders Place Their Bets

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $8.85, for a total value of $177,000.00. Following the completion of the transaction, the director now owns 342,923 shares in the company, valued at approximately $3,034,868.55. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.81% of the stock is currently owned by company 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.