49,354 Shares in Applied Digital Corporation $APLD Bought by Whitaker Myers Wealth Managers LTD.

Whitaker Myers Wealth Managers LTD. acquired a new stake in shares of Applied Digital Corporation (NASDAQ:APLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 49,354 shares of the company’s stock, valued at approximately $1,841,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Activest Wealth Management acquired a new position in Applied Digital in the 4th quarter worth about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Applied Digital during the 4th quarter valued at about $25,000. McMillan Office Inc. acquired a new stake in shares of Applied Digital during the 4th quarter valued at about $25,000. Larson Financial Group LLC grew its stake in shares of Applied Digital by 56,450.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,131 shares of the company’s stock valued at $26,000 after buying an additional 1,129 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Applied Digital in the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on APLD. Morgan Stanley raised their price objective on shares of Applied Digital from $36.50 to $37.50 and gave the company an “equal weight” rating in a research report on Thursday. B. Riley Financial reissued a “buy” rating and issued a $75.00 target price (up from $66.00) on shares of Applied Digital in a research report on Monday, August 3rd. Zacks Research upgraded shares of Applied Digital from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Craig Hallum raised their price target on shares of Applied Digital from $75.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Applied Digital in a research note on Tuesday, July 21st. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Applied Digital currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.15.

Applied Digital Stock Up 1.2%

Shares of APLD stock opened at $29.22 on Friday. The stock’s 50 day simple moving average is $35.48 and its 200 day simple moving average is $34.10. Applied Digital Corporation has a twelve month low of $13.16 and a twelve month high of $50.72. The company has a debt-to-equity ratio of 2.88, a quick ratio of 4.01 and a current ratio of 4.01. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -32.83 and a beta of 5.75.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Monday, July 27th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.30). Applied Digital had a negative return on equity of 16.42% and a negative net margin of 37.78%.The company had revenue of $240.35 million for the quarter, compared to the consensus estimate of $96.85 million. During the same period in the previous year, the company earned ($0.24) EPS. The firm’s revenue for the quarter was up 406.3% compared to the same quarter last year. As a group, research analysts predict that Applied Digital Corporation will post -1.08 EPS for the current year.

Insider Buying and Selling at Applied Digital

In related news, Director Richard N. Nottenburg sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $31.15, for a total transaction of $2,336,250.00. Following the completion of the sale, the director directly owned 133,378 shares of the company’s stock, valued at approximately $4,154,724.70. This represents a 35.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.50% of the company’s stock.

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.