Applied Digital Co. (OTCMKTS:APLD) CEO Buys $60,000.00 in Stock

Posted by MarketBeat News on Jan 23rd, 2023

Applied Digital Co. (OTCMKTS:APLD – Get Rating) CEO Wes Cummins acquired 25,000 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were bought at an average price of $2.40 per share, for a total transaction of $60,000.00. Following the acquisition, the chief executive officer now owns 1,675,686 shares of the company’s stock, valued at $4,021,646.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wes Cummins also recently made the following trade(s):

On Tuesday, January 17th, Wes Cummins acquired 50,000 shares of Applied Digital stock. The shares were bought at an average price of $2.25 per share, for a total transaction of $112,500.00.
On Thursday, January 12th, Wes Cummins acquired 50,000 shares of Applied Digital stock. The shares were bought at an average price of $2.17 per share, for a total transaction of $108,500.00.
On Wednesday, November 30th, Wes Cummins acquired 75,000 shares of Applied Digital stock. The shares were bought at an average price of $1.95 per share, for a total transaction of $146,250.00.
On Monday, November 28th, Wes Cummins acquired 30,000 shares of Applied Digital stock. The shares were bought at an average price of $1.98 per share, for a total transaction of $59,400.00.
On Friday, November 25th, Wes Cummins purchased 50,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.24 per share, with a total value of $112,000.00.
On Wednesday, November 23rd, Wes Cummins acquired 50,000 shares of Applied Digital stock. The stock was acquired at an average price of $2.23 per share, for a total transaction of $111,500.00.
On Friday, November 11th, Wes Cummins bought 40,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.23 per share, with a total value of $89,200.00.
On Wednesday, November 9th, Wes Cummins bought 30,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.14 per share, with a total value of $64,200.00.
On Monday, November 7th, Wes Cummins bought 30,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.52 per share, with a total value of $75,600.00.
On Monday, October 31st, Wes Cummins bought 20,000 shares of Applied Digital stock. The shares were acquired at an average cost of $2.24 per share, with a total value of $44,800.00.

Applied Digital Stock Down 0.8 %

APLD opened at $2.40 on Monday. The company has a fifty day moving average of $1.97 and a two-hundred day moving average of $1.97. Applied Digital Co. has a fifty-two week low of $0.85 and a fifty-two week high of $27.12. The stock has a market capitalization of $226.74 million, a price-to-earnings ratio of -4.80 and a beta of 5.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.30 and a current ratio of 0.30.

Want More Great Investing Ideas?

Applied Digital (OTCMKTS:APLD – Get Rating) last announced its earnings results on Monday, January 9th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Applied Digital had a negative net margin of 145.35% and a negative return on equity of 24.36%. The business had revenue of $12.34 million for the quarter, compared to analyst estimates of $12.36 million. On average, research analysts expect that Applied Digital Co. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. HC Wainwright assumed coverage on shares of Applied Digital in a report on Thursday, December 22nd. They set a “buy” rating and a $4.00 target price for the company. B. Riley reduced their target price on shares of Applied Digital from $8.00 to $7.00 in a report on Tuesday, January 10th. Lake Street Capital cut their price objective on shares of Applied Digital from $10.00 to $6.00 in a report on Wednesday, October 12th. Finally, Needham & Company LLC cut their price objective on shares of Applied Digital from $5.50 to $3.70 and set a “buy” rating for the company in a report on Friday, January 13th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.31.

Institutional Trading of Applied Digital

Several institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new stake in shares of Applied Digital in the fourth quarter valued at about $1,719,000. Jane Street Group LLC acquired a new position in Applied Digital during the third quarter worth about $42,000. Alliancebernstein L.P. acquired a new position in Applied Digital during the third quarter worth about $260,000. State Street Corp boosted its position in Applied Digital by 54.4% during the third quarter. State Street Corp now owns 340,783 shares of the company’s stock worth $579,000 after acquiring an additional 120,110 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Applied Digital by 25.6% during the third quarter. Vanguard Group Inc. now owns 36,112 shares of the company’s stock worth $61,000 after acquiring an additional 7,353 shares during the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.

Applied Digital Company Profile

(Get Rating)

Applied Digital Corp. operates as a technology company, which engages in the development and operation of data centers which provide computing power. The company was founded in May 2001 and is headquartered in Dallas, TX.