Applied Digital Corporation $APLD Position Decreased by Boothbay Fund Management LLC

Boothbay Fund Management LLC decreased its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 45.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 496,820 shares of the company’s stock after selling 409,383 shares during the period. Boothbay Fund Management LLC’s holdings in Applied Digital were worth $12,182,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Noble Wealth Management PBC bought a new position in shares of Applied Digital during the 4th quarter valued at about $25,000. Albion Financial Group UT bought a new position in shares of Applied Digital during the 4th quarter valued at about $25,000. Activest Wealth Management bought a new position in shares of Applied Digital during the 4th quarter valued at about $25,000. McMillan Office Inc. bought a new position in shares of Applied Digital during the 4th quarter valued at 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 valued at $26,000 after purchasing an additional 1,129 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on APLD shares. Lucid Cap Mkts upgraded shares of Applied Digital to a “strong-buy” rating in a research report on Wednesday, May 27th. Citizens Jmp raised their price objective on shares of Applied Digital from $40.00 to $60.00 and gave the company a “market outperform” rating in a research report on Thursday, May 21st. Citigroup restated a “market outperform” rating on shares of Applied Digital in a research report on Tuesday, June 9th. Zacks Research lowered shares of Applied Digital from a “hold” rating to a “strong sell” rating in a research report on Monday, June 8th. Finally, Northland Securities set a $82.00 price objective on shares of Applied Digital and gave the company an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Applied Digital currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.56.

Applied Digital Stock Performance

APLD stock opened at $45.57 on Thursday. 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 stock has a market cap of $13.02 billion, a P/E ratio of -61.58 and a beta of 5.69. The firm has a 50 day simple moving average of $39.22 and a 200 day simple moving average of $33.24. Applied Digital Corporation has a 52 week low of $9.02 and a 52 week high of $50.72.

Applied Digital (NASDAQ:APLD) last posted its quarterly 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). The company had revenue of $108.55 million for the quarter, compared to analyst estimates of $78.47 million. Applied Digital had a negative return on equity of 15.91% and a negative net margin of 52.84%.The business’s revenue for the quarter was up 139.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Research analysts anticipate that Applied Digital Corporation will post -0.68 earnings per share for the current fiscal year.

Insider Activity at Applied Digital

In related news, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the director directly owned 184,859 shares in the company, valued at approximately $6,466,367.82. This trade represents a 5.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $34.59, for a total transaction of $432,375.00. Following the sale, the director owned 208,378 shares of the company’s stock, valued at approximately $7,207,795.02. This represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 35,000 shares of company stock valued at $1,182,175. 9.50% of the stock is currently owned by corporate insiders.

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.