Applied Digital Sees Unusually High Options Volume (NASDAQ:APLD)

Applied Digital Co. (NASDAQ:APLDGet Free Report) was the target of unusually large options trading on Tuesday. Investors purchased 14,542 put options on the stock. This is an increase of 102% compared to the typical daily volume of 7,185 put options.

Insiders Place Their Bets

In other news, Director Virginia Moore sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total transaction of $142,200.00. Following the completion of the sale, the director now owns 148,630 shares of the company’s stock, valued at approximately $704,506.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 23.70% of the company’s stock.

Hedge Funds Weigh In On Applied Digital

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Applied Digital during the 3rd quarter valued at about $74,000. Register Financial Advisors LLC boosted its holdings in Applied Digital by 14,390.0% in the 3rd quarter. Register Financial Advisors LLC now owns 144,900 shares of the company’s stock worth $904,000 after buying an additional 143,900 shares during the last quarter. Equitec Proprietary Markets LLC lifted its stake in shares of Applied Digital by 234.3% in the third quarter. Equitec Proprietary Markets LLC now owns 808,812 shares of the company’s stock worth $5,047,000 after buying an additional 566,898 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in Applied Digital by 73.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 639,482 shares of the company’s stock valued at $3,990,000 after acquiring an additional 271,197 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Applied Digital during the 3rd quarter valued at about $68,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Down 12.8 %

Shares of NASDAQ APLD opened at $3.33 on Thursday. The business has a fifty day simple moving average of $4.50 and a two-hundred day simple moving average of $5.23. Applied Digital has a twelve month low of $2.06 and a twelve month high of $11.62. The firm has a market cap of $406.39 million, a PE ratio of -9.51 and a beta of 4.12. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.45.

Applied Digital (NASDAQ:APLDGet Free Report) last released its earnings results on Tuesday, January 16th. The company reported ($0.10) earnings per share for the quarter. The company had revenue of $42.20 million for the quarter, compared to analysts’ expectations of $54.78 million. Applied Digital had a negative return on equity of 31.26% and a negative net margin of 28.94%. Analysts expect that Applied Digital will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Needham & Company LLC cut their price objective on Applied Digital from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 18th.

View Our Latest Report on Applied Digital

Applied Digital Company Profile

(Get Free Report)

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.

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