Applied Digital Co. (OTCMKTS:APLD – Get Rating) – Research analysts at HC Wainwright issued their FY2024 EPS estimates for Applied Digital in a research note issued on Monday, April 10th. HC Wainwright analyst K. Dede anticipates that the company will post earnings of $0.37 per share for the year. HC Wainwright has a “Buy” rating and a $4.00 price objective on the stock. The consensus estimate for Applied Digital’s current full-year earnings is ($0.39) per share.
A number of other equities analysts have also recently issued reports on APLD. Needham & Company LLC lowered their price objective on shares of Applied Digital from $5.50 to $3.70 and set a “buy” rating for the company in a research report on Friday, January 13th. B. Riley lowered their price target on shares of Applied Digital from $8.00 to $7.00 in a report on Tuesday, January 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $6.31.
Applied Digital Stock Performance
Applied Digital (OTCMKTS:APLD – Get Rating) last issued its quarterly earnings results on Monday, January 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Applied Digital had a negative return on equity of 16.32% and a negative net margin of 100.29%. The company had revenue of $12.34 million for the quarter, compared to analyst estimates of $12.36 million.
Institutional Trading of Applied Digital
A number of large investors have recently bought and sold shares of APLD. Amalgamated Bank lifted its position in shares of Applied Digital by 65.4% during the 4th quarter. Amalgamated Bank now owns 14,414 shares of the company’s stock valued at $27,000 after acquiring an additional 5,697 shares during the period. The Manufacturers Life Insurance Company bought a new position in shares of Applied Digital during the 4th quarter worth about $31,000. Barclays PLC grew its stake in shares of Applied Digital by 5,204.1% in the 4th quarter. Barclays PLC now owns 18,140 shares of the company’s stock valued at $33,000 after buying an additional 17,798 shares during the period. Virtu Financial LLC increased its position in Applied Digital by 89.4% in the 3rd quarter. Virtu Financial LLC now owns 20,516 shares of the company’s stock valued at $35,000 after buying an additional 9,682 shares in the last quarter. Finally, UBS Group AG acquired a new position in Applied Digital during the 3rd quarter worth approximately $36,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Chuck Hastings acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average cost of $2.59 per share, for a total transaction of $25,900.00. Following the completion of the acquisition, the director now directly owns 464,500 shares of the company’s stock, valued at approximately $1,203,055. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Wes Cummins bought 50,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was acquired at an average price of $2.25 per share, with a total value of $112,500.00. Following the transaction, the chief executive officer now owns 1,600,686 shares of the company’s stock, valued at approximately $3,601,543.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Chuck Hastings bought 10,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were purchased at an average cost of $2.59 per share, with a total value of $25,900.00. Following the purchase, the director now directly owns 464,500 shares of the company’s stock, valued at $1,203,055. The disclosure for this purchase can be found here. Insiders have acquired 310,000 shares of company stock valued at $817,400 in the last ninety days. 28.90% of the stock is currently owned by insiders.
Applied Digital Company Profile
Applied Digital Corp. operates as a technology company, which engages in the development and operation of data centers which provide computing power. The company was founded in May 2001 and is headquartered in Dallas, TX.
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