Penserra Capital Management LLC purchased a new stake in shares of Applied Digital Co. (OTCMKTS:APLD – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 44,954 shares of the company's stock, valued at approximately $76,000.

A number of other institutional investors have also made changes to their positions in APLD. Virtu Financial LLC boosted its stake in shares of Applied Digital by 89.4% in the third quarter. Virtu Financial LLC now owns 20,516 shares of the company's stock valued at $35,000 after purchasing an additional 9,682 shares during the period. UBS Group AG acquired a new position in shares of Applied Digital in the third quarter worth $36,000. Advisory Services Network LLC acquired a new stake in shares of Applied Digital in the second quarter valued at $26,000. Renaissance Technologies LLC purchased a new position in Applied Digital in the second quarter valued at $30,000. Finally, KCL Capital L.P. acquired a new position in Applied Digital during the 2nd quarter worth $42,000. 48.42% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Performance

Shares of APLD opened at $2.60 on Tuesday. The company's 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.19. Applied Digital Co. has a 12-month low of $0.85 and a 12-month high of $27.12. The firm has a market cap of $245.62 million, a PE ratio of -5.20 and a beta of 5.11. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.35.

Applied Digital (OTCMKTS:APLD – Get Rating) last released its quarterly earnings results on Monday, January 9th. The company reported ($0.05) 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 firm had revenue of $12.34 million during the quarter, compared to the consensus estimate of $12.36 million. As a group, equities analysts predict that Applied Digital Co. will post -0.38 EPS for the current year.

Insider Buying and Selling at Applied Digital

In other news, CEO Wes Cummins acquired 50,000 shares of the company's stock in a transaction on Thursday, January 12th. The shares were bought at an average cost of $2.17 per share, with a total value of $108,500.00. Following the purchase, the chief executive officer now owns 1,475,686 shares of the company's stock, valued at approximately $3,202,238.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have bought 375,000 shares of company stock valued at $937,750. 28.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on APLD. B. Riley reduced their price target on Applied Digital from $8.00 to $7.00 in a research report on Tuesday, January 10th. Needham & Company LLC decreased their price target on shares of Applied Digital from $5.50 to $3.70 and set a "buy" rating for the company in a research note on Friday, January 13th. Finally, HC Wainwright initiated coverage on shares of Applied Digital in a report on Thursday, December 22nd. They issued a "buy" rating and a $4.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $6.31.

Applied Digital Profile

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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.

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