Hennion & Walsh Asset Management Inc. Acquires 21,130 Shares of Applied Digital Corporation $APLD

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 102.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,787 shares of the company’s stock after purchasing an additional 21,130 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Applied Digital were worth $1,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in APLD. Vanguard Group Inc. increased its holdings in shares of Applied Digital by 36.4% in the 4th quarter. Vanguard Group Inc. now owns 24,168,082 shares of the company’s stock worth $592,601,000 after buying an additional 6,445,908 shares during the last quarter. Situational Awareness LP lifted its holdings in shares of Applied Digital by 18.9% in the 1st quarter. Situational Awareness LP now owns 13,478,438 shares of the company’s stock valued at $319,978,000 after acquiring an additional 2,139,378 shares during the last quarter. Geode Capital Management LLC grew its position in Applied Digital by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 6,285,820 shares of the company’s stock worth $154,151,000 after acquiring an additional 304,228 shares in the last quarter. Value Aligned Research Advisors LLC purchased a new position in Applied Digital in the fourth quarter worth about $138,380,000. Finally, BNP Paribas Financial Markets increased its stake in Applied Digital by 24,356.8% during the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after acquiring an additional 5,198,223 shares during the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APLD has been the topic of a number of recent research reports. Northland Securities set a $82.00 price objective on Applied Digital and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Craig Hallum lifted their target price on Applied Digital from $75.00 to $79.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Lake Street Capital increased their price target on Applied Digital from $70.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Needham & Company LLC restated a “buy” rating and issued a $83.00 price target on shares of Applied Digital in a research report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research note on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.15.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 75,000 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $31.15, for a total value of $2,336,250.00. Following the sale, the director owned 133,378 shares in the company, valued at $4,154,724.70. This trade represents a 35.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.50% of the stock is owned by company insiders.

More Applied Digital News

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Strong forecasts from AI infrastructure companies CoreWeave and Super Micro, along with CoreWeave’s reported capacity sellout, reinforced expectations for sustained demand for data centers and computing power. That optimism provided a favorable read-through for Applied Digital’s data-center and AI infrastructure business. CoreWeave Jumps 18% as AI Capacity Sells Out
• Positive Sentiment: Broad gains across neocloud stocks and a newly introduced ETF focused on the group could increase investor attention and capital flows toward companies involved in AI computing infrastructure, benefiting sentiment around APLD. CoreWeave & Nebius Are Soaring
• Neutral Sentiment: Commentary highlighting a potential bull-case price of $68 versus a bear case of $16 underscores the unusually wide range of outcomes investors see for Applied Digital, reflecting both significant AI-growth potential and substantial execution risk. APLD Stock Prediction: $68 Bull Case vs. $16 Bear Case
• Negative Sentiment: Analysts and market commentary flagged heavy capital requirements, elevated debt, intensifying competition, weaker earnings estimates and an expensive valuation as risks to the stock’s rally. These concerns are particularly important given Applied Digital’s recent earnings miss despite sharply higher revenue. APLD Surges 101% in a Year: Should You Buy, Sell or Hold the Stock?

Applied Digital Stock Up 4.9%

Shares of NASDAQ APLD opened at $31.15 on Thursday. Applied Digital Corporation has a 1 year low of $13.16 and a 1 year high of $50.72. The firm has a 50-day simple moving average of $34.47 and a two-hundred day simple moving average of $33.97. The company has a market cap of $9.08 billion, a P/E ratio of -35.00 and a beta of 5.75. The company has a debt-to-equity ratio of 2.88, a current ratio of 4.01 and a quick ratio of 4.01.

Applied Digital (NASDAQ:APLD) last released its earnings results on Monday, July 27th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.30). Applied Digital had a negative net margin of 37.78% and a negative return on equity of 16.42%. The business had revenue of $240.35 million for the quarter, compared to the consensus estimate of $96.85 million. During the same period in the prior year, the company posted ($0.24) EPS. The company’s quarterly revenue was up 406.3% compared to the same quarter last year. Research analysts anticipate that Applied Digital Corporation will post -1.09 earnings per share for the current year.

About Applied Digital

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.