19,792 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 19,792 shares of the company’s stock, valued at approximately $133,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. bought a new position in Applied Digital in the third quarter valued at approximately $68,000. Arizona State Retirement System bought a new position in shares of Applied Digital during the third quarter worth about $111,000. Barclays PLC grew its stake in shares of Applied Digital by 73.6% during the 3rd quarter. Barclays PLC now owns 23,588 shares of the company’s stock worth $146,000 after acquiring an additional 10,002 shares in the last quarter. Swiss National Bank bought a new position in Applied Digital in the third quarter valued at $856,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Applied Digital in the third quarter valued at about $2,270,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 $704,506.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 23.70% of the stock is owned by company insiders.

Applied Digital Stock Up 1.2 %

NASDAQ APLD opened at $3.34 on Friday. 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 has a market cap of $409.90 million, a price-to-earnings ratio of -4.23 and a beta of 4.29. The company has a 50 day moving average of $3.54 and a 200-day moving average of $4.79. Applied Digital Co. has a 1-year low of $2.36 and a 1-year high of $11.62.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Thursday, April 11th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.40). The company had revenue of $43.35 million for the quarter, compared to the consensus estimate of $50.36 million. Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. On average, equities research analysts expect that Applied Digital Co. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on APLD shares. Needham & Company LLC lowered their target price on shares of Applied Digital from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Lake Street Capital dropped their price target on Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a report on Friday, April 12th. B. Riley decreased their price objective on Applied Digital from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Monday. Finally, Roth Mkm lowered their price objective on Applied Digital from $13.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has an average rating of “Buy” and a consensus price target of $8.80.

Applied Digital 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.