27,838 Shares in Applied Digital Corporation $APLD Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC acquired a new position in shares of Applied Digital Corporation (NASDAQ:APLD) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,838 shares of the company’s stock, valued at approximately $682,000.

Several other hedge funds have also bought and sold shares of APLD. Noble Wealth Management PBC bought a new position in shares of Applied Digital in the fourth quarter worth approximately $25,000. Albion Financial Group UT bought a new position in shares of Applied Digital in the fourth quarter worth approximately $25,000. Activest Wealth Management bought a new position in shares of Applied Digital in the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted its stake in shares of Applied Digital by 56,450.0% in the third quarter. Larson Financial Group LLC now owns 1,131 shares of the company’s stock worth $26,000 after buying an additional 1,129 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Applied Digital by 87.5% in the fourth quarter. GAMMA Investing LLC now owns 1,376 shares of the company’s stock worth $34,000 after buying an additional 642 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Applied Digital from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research note on Thursday, May 21st. Lake Street Capital restated a “buy” rating and set a $70.00 price objective (up from $55.00) on shares of Applied Digital in a research report on Thursday, May 21st. Roth Mkm restated a “buy” rating and set a $65.00 price objective on shares of Applied Digital in a research report on Thursday, April 23rd. Finally, Needham & Company LLC increased their price objective on shares of Applied Digital from $51.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $59.11.

Applied Digital Stock Down 4.8%

Shares of APLD stock opened at $47.28 on Friday. Applied Digital Corporation has a 12 month low of $6.68 and a 12 month high of $50.72. The stock has a market cap of $13.51 billion, a P/E ratio of -63.89 and a beta of 5.69. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 1.65. The company has a 50 day simple moving average of $34.40 and a two-hundred day simple moving average of $31.42.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.23). The firm had revenue of $108.55 million during the quarter, compared to analysts’ expectations of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business’s revenue for the quarter was up 139.3% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. On average, research analysts expect that Applied Digital Corporation will post -0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction on Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the sale, the director directly owned 184,859 shares in the company, valued at approximately $6,466,367.82. The trade was a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Nottenburg sold 12,500 shares of the stock in a transaction dated Thursday, April 30th. The shares were 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 of the company’s stock, valued at $7,207,795.02. This trade represents a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 35,000 shares of company stock valued at $1,182,175. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Profile

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.