Dymon Asia Capital Singapore PTE. LTD. Acquires Shares of 580,000 Applied Digital Corporation $APLD

Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in Applied Digital Corporation (NASDAQ:APLD) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 580,000 shares of the company’s stock, valued at approximately $14,222,000. Applied Digital makes up about 1.4% of Dymon Asia Capital Singapore PTE. LTD.’s portfolio, making the stock its 5th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of APLD. Noble Wealth Management PBC acquired a new position in Applied Digital during the 4th quarter worth about $25,000. Albion Financial Group UT bought a new position in shares of Applied Digital during the 4th quarter worth about $25,000. Activest Wealth Management bought a new position in shares of Applied Digital during the 4th quarter worth about $25,000. McMillan Office Inc. bought a new position in shares of Applied Digital during the 4th quarter worth about $25,000. Finally, Larson Financial Group LLC boosted its position in shares of Applied Digital by 56,450.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,131 shares of the company’s stock worth $26,000 after purchasing an additional 1,129 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Applied Digital Trading Up 3.0%

NASDAQ:APLD opened at $42.70 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of -57.70 and a beta of 5.69. Applied Digital Corporation has a 52 week low of $9.02 and a 52 week high of $50.72. The firm has a 50-day moving average price of $37.94 and a two-hundred day moving average price of $32.72.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate 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 net margin of 52.84% and a negative return on equity of 15.91%. The company’s quarterly revenue was up 139.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.08) EPS. On average, equities analysts expect that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director owned 208,378 shares in the company, valued at $7,207,795.02. This trade represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the sale, the director owned 184,859 shares of the company’s stock, valued at approximately $6,466,367.82. The trade was a 5.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 35,000 shares of company stock valued at $1,182,175. Company insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on APLD. Lake Street Capital increased their price objective on shares of Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Compass Point reissued a “buy” rating and set a $70.00 price objective on shares of Applied Digital in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Lucid Cap Mkts upgraded shares of Applied Digital to a “strong-buy” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen lowered shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.67.

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.