Vontobel Holding Ltd. Makes New $111,000 Investment in Applied Digital Co. (NASDAQ:APLD)

Vontobel Holding Ltd. bought a new position in Applied Digital Co. (NASDAQ:APLD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 16,500 shares of the company’s stock, valued at approximately $111,000.

Several other hedge funds also recently made changes to their positions in APLD. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Applied Digital in the third quarter worth $68,000. Arizona State Retirement System purchased a new position in shares of Applied Digital in the third quarter worth $111,000. Barclays PLC increased its stake in shares of Applied Digital by 73.6% in the third quarter. Barclays PLC now owns 23,588 shares of the company’s stock worth $146,000 after buying an additional 10,002 shares during the period. SG Americas Securities LLC purchased a new position in shares of Applied Digital in the fourth quarter worth $187,000. Finally, MRP Capital Investments LLC purchased a new position in shares of Applied Digital in the fourth quarter worth $223,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Virginia Moore sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total transaction of $142,200.00. Following the sale, the director now owns 148,630 shares in the company, valued at approximately $704,506.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 23.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on APLD. Needham & Company LLC decreased their target price on shares of Applied Digital from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Roth Mkm reduced their price objective on shares of Applied Digital from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Lake Street Capital reduced their price objective on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Finally, B. Riley reduced their price objective on shares of Applied Digital from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $9.20.

Applied Digital Stock Up 1.7 %

Shares of Applied Digital stock opened at $2.98 on Thursday. Applied Digital Co. has a 12-month low of $2.36 and a 12-month high of $11.62. The company has a market cap of $365.77 million, a P/E ratio of -3.77 and a beta of 4.12. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90. The company’s fifty day simple moving average is $3.86 and its two-hundred day simple moving average is $4.95.

About Applied Digital

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.