Handelsbanken Fonder AB Invests $1.47 Million in Applied Digital Corporation $APLD

Handelsbanken Fonder AB acquired a new position in shares of Applied Digital Corporation (NASDAQ:APLD) in the 4th quarter, Holdings Channel.com reports. The fund acquired 59,800 shares of the company’s stock, valued at approximately $1,466,000.

Several other large investors also recently made changes to their positions in APLD. AQR Capital Management LLC increased its position in shares of Applied Digital by 84.8% during the first quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock worth $106,000 after acquiring an additional 8,692 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Applied Digital by 239.1% during the first quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock worth $187,000 after acquiring an additional 23,457 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Applied Digital by 113.3% during the first quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock worth $37,000 after acquiring an additional 3,542 shares in the last quarter. Strs Ohio bought a new stake in shares of Applied Digital during the first quarter worth $71,000. Finally, Cetera Investment Advisers increased its position in shares of Applied Digital by 61.0% during the second quarter. Cetera Investment Advisers now owns 61,656 shares of the company’s stock worth $621,000 after acquiring an additional 23,360 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Insider Transactions at Applied Digital

In other news, Director Douglas S. Miller sold 10,000 shares of Applied Digital stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the completion of the transaction, the director owned 184,859 shares of the company’s stock, valued at $6,466,367.82. This trade represents a 5.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Nottenburg sold 12,500 shares of Applied Digital 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 completion of the transaction, the director directly owned 208,378 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 35,000 shares of company stock valued at $1,182,175. Insiders own 9.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on APLD. Wall Street Zen downgraded shares of Applied Digital from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Northland Securities set a $56.00 target price on shares of Applied Digital in a report on Wednesday, January 28th. Zacks Research upgraded shares of Applied Digital from a “strong sell” rating to a “hold” rating in a report on Thursday, May 7th. Compass Point restated a “buy” rating and set a $70.00 target price on shares of Applied Digital in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.67.

Applied Digital Stock Performance

Shares of APLD opened at $45.87 on Tuesday. Applied Digital Corporation has a 12 month low of $6.68 and a 12 month high of $48.57. The firm has a fifty day simple moving average of $32.76 and a 200 day simple moving average of $30.96. The stock has a market capitalization of $13.11 billion, a price-to-earnings ratio of -61.99 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.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Wednesday, April 8th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 139.3% compared to the same quarter last year. Research analysts forecast that Applied Digital Corporation will post -0.61 EPS for the current fiscal year.

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.