Applied Digital Corporation $APLD Shares Acquired by Situational Awareness LP

Situational Awareness LP boosted its position in Applied Digital Corporation (NASDAQ:APLD) by 87.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,339,060 shares of the company’s stock after purchasing an additional 5,274,905 shares during the period. Applied Digital accounts for about 5.0% of Situational Awareness LP’s portfolio, making the stock its 7th biggest holding. Situational Awareness LP’s holdings in Applied Digital were worth $278,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of APLD. Noble Wealth Management PBC acquired a new position in Applied Digital in the 4th quarter worth about $25,000. Albion Financial Group UT acquired a new position in Applied Digital in the 4th quarter worth about $25,000. Activest Wealth Management acquired a new position in Applied Digital in the 4th quarter worth about $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in Applied Digital in the 2nd quarter worth about $26,000. Finally, Larson Financial Group LLC increased its holdings in Applied Digital by 56,450.0% in 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 and hedge funds own 65.67% of the company’s stock.

Insider Activity

In related news, Director Douglas S. Miller sold 10,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $6,466,367.82. This represents a 5.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total value of $432,375.00. Following the sale, the director owned 208,378 shares in the company, valued at approximately $7,207,795.02. The trade was a 5.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 35,000 shares of company stock worth $1,182,175. 9.50% of the stock is owned by corporate insiders.

Applied Digital Trading Down 10.3%

Shares of APLD stock opened at $39.62 on Friday. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of -53.54 and a beta of 5.69. The stock has a 50-day moving average of $36.19 and a 200-day moving average of $32.06. 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 Corporation has a 1-year low of $9.02 and a 1-year high of $50.72.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Wednesday, April 8th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.23). Applied Digital had a negative net margin of 52.84% and a negative return on equity of 15.91%. The company had revenue of $108.55 million during the quarter, compared to analyst estimates of $78.47 million. During the same period in the previous year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 139.3% on a year-over-year basis. On average, equities research analysts forecast that Applied Digital Corporation will post -0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APLD has been the subject of several recent research reports. Roth Mkm reissued a “buy” rating and issued a $65.00 price target on shares of Applied Digital in a research note on Thursday, April 23rd. Wall Street Zen cut Applied Digital from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Lake Street Capital reissued a “buy” rating and issued a $70.00 price target (up from $55.00) on shares of Applied Digital in a research note on Thursday, May 21st. B. Riley Financial reissued a “buy” rating and issued a $66.00 price target (up from $53.00) on shares of Applied Digital in a research note on Wednesday, May 27th. Finally, Zacks Research raised Applied Digital from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Applied Digital has an average rating of “Buy” and a consensus price target of $59.11.

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.