22,737 Shares in Applied Digital Corporation $APLD Bought by McGuire Investment Group LLC

McGuire Investment Group LLC bought a new stake in Applied Digital Corporation (NASDAQ:APLD) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 22,737 shares of the company’s stock, valued at approximately $522,000.

Several other institutional investors and hedge funds have also bought and sold shares of APLD. Atlantic Union Bankshares Corp purchased a new stake in shares of Applied Digital during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Applied Digital during the second quarter valued at approximately $26,000. Geneos Wealth Management Inc. increased its holdings in Applied Digital by 113.3% during the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after buying an additional 3,542 shares during the last quarter. Ameriflex Group Inc. bought a new position in Applied Digital in the second quarter worth approximately $42,000. Finally, Hollencrest Capital Management purchased a new position in shares of Applied Digital during the 2nd quarter worth $50,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Stock Performance

NASDAQ APLD opened at $28.11 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.29. Applied Digital Corporation has a twelve month low of $3.31 and a twelve month high of $40.20. The business has a 50-day moving average price of $27.57 and a 200-day moving average price of $21.07. The firm has a market cap of $7.85 billion, a price-to-earnings ratio of -24.88 and a beta of 6.89.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The company had revenue of $64.22 million for the quarter, compared to the consensus estimate of $52.25 million. During the same quarter last year, the company earned ($0.15) EPS. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, equities research analysts predict that Applied Digital Corporation will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APLD shares. Wall Street Zen lowered Applied Digital from a “hold” rating to a “sell” rating in a research note on Sunday, October 19th. Compass Point started coverage on Applied Digital in a research report on Monday, September 15th. They issued a “buy” rating for the company. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research report on Wednesday, October 8th. Finally, Northland Securities reissued an “outperform” rating and issued a $40.00 target price on shares of Applied Digital in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Applied Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Ella G. Benson sold 42,569 shares of Applied Digital stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $35.30, for a total value of $1,502,685.70. Following the sale, the director directly owned 69,256 shares in the company, valued at approximately $2,444,736.80. The trade was a 38.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mohammad Saidal Lavanw Mohmand sold 100,000 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $34.08, for a total transaction of $3,408,000.00. Following the completion of the sale, the chief financial officer owned 158,912 shares in the company, valued at approximately $5,415,720.96. The trade was a 38.62% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 328,035 shares of company stock valued at $11,376,479. 9.50% of the stock is owned by corporate insiders.

Applied Digital Company 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.