Investors Purchase High Volume of Applied Digital Call Options (NASDAQ:APLD)

Applied Digital Corporation (NASDAQ:APLD) was the target of some unusual options trading on Friday. Traders purchased 181,571 call options on the stock. This represents an increase of approximately 57% compared to the average volume of 115,423 call options.

Insider Transactions at Applied Digital

In other Applied Digital news, Director Rachel H. Lee sold 24,213 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $33.20, for a total transaction of $803,871.60. Following the completion of the sale, the director directly owned 59,400 shares of the company’s stock, valued at approximately $1,972,080. The trade was a 28.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ella G. Benson sold 42,569 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $35.30, for a total transaction of $1,502,685.70. Following the transaction, the director owned 69,256 shares in the company, valued at approximately $2,444,736.80. The trade was a 38.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 823,035 shares of company stock valued at $18,930,179. 9.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APLD. Dagco Inc. bought a new stake in Applied Digital in the 3rd quarter valued at $27,000. Evolution Wealth Management Inc. boosted its position in Applied Digital by 101.8% during the third quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after purchasing an additional 807 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Applied Digital by 124.9% in the third quarter. CoreCap Advisors LLC now owns 1,804 shares of the company’s stock valued at $41,000 after purchasing an additional 1,002 shares during the last quarter. RiverPark Advisors LLC bought a new position in shares of Applied Digital in the third quarter valued at about $51,000. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Applied Digital by 51.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,306 shares of the company’s stock worth $53,000 after buying an additional 787 shares during the period. 65.67% of the stock is currently owned by institutional investors.

Applied Digital Stock Performance

APLD stock traded up $0.59 during trading hours on Friday, reaching $23.65. The stock had a trading volume of 44,337,674 shares, compared to its average volume of 35,979,496. The stock has a 50-day simple moving average of $27.30 and a 200 day simple moving average of $16.46. Applied Digital has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The stock has a market capitalization of $6.73 billion, a PE ratio of -20.93 and a beta of 6.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.65 and a quick ratio of 0.65.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.08. Applied Digital had a negative net margin of 111.29% and a negative return on equity of 37.14%. The company had revenue of $64.22 million for the quarter, compared to analysts’ expectations of $52.25 million. During the same period in the prior year, the firm earned ($0.15) EPS. Applied Digital’s quarterly revenue was up 84.3% compared to the same quarter last year. Analysts predict that Applied Digital will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

APLD has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Applied Digital from a “hold” rating to a “sell” rating in a report on Sunday, October 19th. Craig Hallum raised their price target on Applied Digital to $39.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Citigroup restated an “outperform” rating on shares of Applied Digital in a report on Thursday, October 9th. Compass Point began coverage on shares of Applied Digital in a research note on Monday, September 15th. They issued a “buy” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $41.00 price target on shares of Applied Digital in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.20.

Applied Digital Company Profile

Applied Digital Corporation designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the high-performance computing industry. The company also provides artificial intelligence cloud services, high performance computing datacenter hosting, and crypto datacenter hosting services.