Royce & Associates LP Purchases 15,763 Shares of Applied Digital Co. (NASDAQ:APLD)

Royce & Associates LP increased its position in Applied Digital Co. (NASDAQ:APLD) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,132,140 shares of the company’s stock after acquiring an additional 15,763 shares during the quarter. Royce & Associates LP owned about 0.53% of Applied Digital worth $9,340,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Applied Digital by 70.2% in the first quarter. Vanguard Group Inc. now owns 6,176,073 shares of the company’s stock worth $26,434,000 after purchasing an additional 2,547,485 shares during the period. Hood River Capital Management LLC boosted its position in shares of Applied Digital by 8.7% in the second quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company’s stock valued at $57,098,000 after acquiring an additional 771,699 shares during the period. Alight Capital Management LP bought a new stake in shares of Applied Digital in the second quarter valued at approximately $3,570,000. Van ECK Associates Corp grew its stake in shares of Applied Digital by 18.3% in the second quarter. Van ECK Associates Corp now owns 2,869,980 shares of the company’s stock worth $17,077,000 after acquiring an additional 443,699 shares during the last quarter. Finally, Thomist Capital Management LP bought a new position in Applied Digital during the second quarter worth $2,529,000. Institutional investors and hedge funds own 65.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on APLD. B. Riley increased their price target on shares of Applied Digital from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, September 13th. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research note on Thursday, October 10th. Lake Street Capital boosted their price target on Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Craig Hallum raised their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a report on Friday, November 1st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $10.50.

Applied Digital Stock Up 5.4 %

Shares of APLD opened at $7.23 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $5.57. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -6.18 and a beta of 4.65. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $9.48.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, October 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. The business had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $54.85 million. Applied Digital had a negative return on equity of 88.87% and a negative net margin of 74.95%. Applied Digital’s quarterly revenue was up 67.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) EPS. Equities analysts predict that Applied Digital Co. will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other news, Director Richard N. Nottenburg sold 80,000 shares of Applied Digital stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $7.37, for a total value of $589,600.00. Following the completion of the transaction, the director now owns 433,686 shares in the company, valued at approximately $3,196,265.82. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $8.01, for a total value of $80,100.00. Following the completion of the transaction, the director now directly owns 208,506 shares in the company, valued at $1,670,133.06. The trade was a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,369 shares of company stock valued at $870,161. 11.81% of the stock is currently owned by company insiders.

Applied Digital 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.