SBI Securities Co. Ltd. Reduces Stake in Applied Digital Corporation $APLD

SBI Securities Co. Ltd. lessened its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 53.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 19,506 shares of the company’s stock after selling 22,394 shares during the period. SBI Securities Co. Ltd.’s holdings in Applied Digital were worth $447,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in Applied Digital by 51.8% during the third quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock worth $53,000 after purchasing an additional 787 shares in the last quarter. Evolution Wealth Management Inc. raised its stake in Applied Digital by 101.8% during the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after acquiring an additional 807 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in Applied Digital by 6.0% in the second quarter. Flagship Harbor Advisors LLC now owns 15,930 shares of the company’s stock valued at $160,000 after acquiring an additional 900 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Applied Digital by 124.9% during the third quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock worth $41,000 after purchasing an additional 1,002 shares during the last quarter. Finally, Compass Ion Advisors LLC grew its holdings in shares of Applied Digital by 9.9% during the third quarter. Compass Ion Advisors LLC now owns 11,434 shares of the company’s stock worth $262,000 after purchasing an additional 1,034 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on APLD. Arete Research started coverage on Applied Digital in a research report on Wednesday, January 7th. They issued a “buy” rating for the company. Citigroup reiterated an “outperform” rating on shares of Applied Digital in a research note on Wednesday, January 28th. Texas Capital upgraded shares of Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 target price on shares of Applied Digital in a report on Thursday, January 8th. Finally, Freedom Capital upgraded shares of Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Applied Digital presently has an average rating of “Buy” and an average price target of $34.73.

Applied Digital Stock Up 25.5%

APLD stock opened at $34.95 on Friday. Applied Digital Corporation has a one year low of $3.31 and a one year high of $42.27. The stock has a market capitalization of $9.77 billion, a PE ratio of -64.72 and a beta of 7.25. The company has a debt-to-equity ratio of 1.79, a quick ratio of 4.82 and a current ratio of 4.82. The company has a fifty day moving average of $31.16 and a 200-day moving average of $25.43.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The firm had revenue of $126.59 million for the quarter, compared to analyst estimates of $82.22 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The company’s revenue was up 250.1% compared to the same quarter last year. As a group, analysts expect that Applied Digital Corporation will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Applied Digital news, Director Douglas S. Miller sold 10,000 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $38.54, for a total value of $385,400.00. Following the completion of the sale, the director owned 200,859 shares of the company’s stock, valued at approximately $7,741,105.86. This trade represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 12,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the transaction, the director directly owned 233,378 shares in the company, valued at approximately $8,273,250.10. This trade represents a 4.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 244,593 shares of company stock worth $9,003,278. 9.50% of the stock is owned by 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.