Meitav Investment House Ltd. Takes Position in Applied Digital Co. (OTCMKTS:APLD)

Meitav Investment House Ltd. bought a new stake in Applied Digital Co. (OTCMKTS:APLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,470 shares of the company’s stock, valued at approximately $5,963,000.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Applied Digital in the first quarter valued at about $32,000. Amalgamated Bank raised its holdings in Applied Digital by 65.4% in the 4th quarter. Amalgamated Bank now owns 14,414 shares of the company’s stock valued at $27,000 after acquiring an additional 5,697 shares during the period. Smith Moore & CO. bought a new position in Applied Digital in the 1st quarter valued at about $32,000. Strs Ohio acquired a new stake in Applied Digital during the second quarter worth approximately $158,000. Finally, Barclays PLC boosted its holdings in shares of Applied Digital by 5,204.1% during the fourth quarter. Barclays PLC now owns 18,140 shares of the company’s stock worth $33,000 after acquiring an additional 17,798 shares during the period. 53.75% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Down 0.9 %

OTCMKTS APLD opened at $4.32 on Thursday. The company has a market cap of $459.22 million, a price-to-earnings ratio of -8.00 and a beta of 4.23. Applied Digital Co. has a twelve month low of $1.45 and a twelve month high of $11.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average is $5.16 and its 200 day moving average is $6.64.

Applied Digital (OTCMKTS:APLD) last issued its quarterly earnings data on Monday, October 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). Applied Digital had a negative net margin of 80.60% and a negative return on equity of 61.59%. The business had revenue of $36.32 million during the quarter, compared to the consensus estimate of $34.84 million. As a group, sell-side analysts expect that Applied Digital Co. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on APLD shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Applied Digital in a research report on Tuesday, July 25th. Needham & Company LLC raised their target price on shares of Applied Digital from $16.00 to $17.50 and gave the stock a “buy” rating in a report on Tuesday, July 25th.

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.