11,984 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,984 shares of the company’s stock, valued at approximately $92,000.

A number of other institutional investors have also recently made changes to their positions in APLD. Vontobel Holding Ltd. grew its holdings in Applied Digital by 9.8% during the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company’s stock valued at $128,000 after buying an additional 1,500 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock worth $31,000 after acquiring an additional 2,000 shares during the last quarter. Amalgamated Bank raised its position in Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company’s stock worth $50,000 after buying an additional 3,473 shares during the last quarter. HighTower Advisors LLC grew its holdings in Applied Digital by 34.7% during the fourth quarter. HighTower Advisors LLC now owns 16,162 shares of the company’s stock worth $123,000 after acquiring an additional 4,162 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Applied Digital by 44.2% in the fourth quarter. Principal Financial Group Inc. now owns 14,542 shares of the company’s stock valued at $111,000 after acquiring an additional 4,459 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Price Performance

NASDAQ APLD opened at $12.77 on Friday. The company has a market capitalization of $2.87 billion, a PE ratio of -7.38 and a beta of 6.09. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm’s 50 day moving average is $5.99 and its 200-day moving average is $7.51. Applied Digital Co. has a 12-month low of $3.01 and a 12-month high of $14.49.

Applied Digital (NASDAQ:APLD) last released its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share. Equities research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Insider Buying and Selling at Applied Digital

In other news, Director Rachel H. Lee sold 24,212 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the sale, the director now directly owns 83,613 shares in the company, valued at approximately $585,291. The trade was a 22.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright upped their target price on Applied Digital from $7.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. Craig Hallum increased their price objective on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald dropped their price objective on Applied Digital from $14.00 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research note on Monday. Finally, JMP Securities raised their price target on Applied Digital from $12.00 to $18.00 and gave the company a “market outperform” rating in a research report on Tuesday. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $12.45.

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.