Applied Digital Co. (OTCMKTS:APLD – Get Rating) Director Chuck Hastings acquired 10,000 shares of the business's stock in a transaction dated Monday, February 27th. The shares were acquired at an average price of $2.59 per share, for a total transaction of $25,900.00. Following the acquisition, the director now directly owns 464,500 shares in the company, valued at $1,203,055. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Applied Digital Stock Performance

OTCMKTS:APLD opened at $2.63 on Friday. Applied Digital Co. has a twelve month low of $0.85 and a twelve month high of $27.12. The stock's 50 day moving average price is $2.57 and its two-hundred day moving average price is $2.20. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.35.

Applied Digital (OTCMKTS:APLD – Get Rating) last posted its quarterly earnings results on Monday, January 9th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $12.34 million for the quarter, compared to analyst estimates of $12.36 million. Applied Digital had a negative return on equity of 24.36% and a negative net margin of 145.35%. Analysts predict that Applied Digital Co. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of Applied Digital during the 2nd quarter worth approximately $26,000. Amalgamated Bank boosted its stake in shares of Applied Digital by 65.4% during the 4th quarter. Amalgamated Bank now owns 14,414 shares of the company's stock worth $27,000 after acquiring an additional 5,697 shares during the period. Renaissance Technologies LLC bought a new position in shares of Applied Digital during the 2nd quarter worth approximately $30,000. The Manufacturers Life Insurance Company bought a new position in shares of Applied Digital during the 4th quarter worth approximately $31,000. Finally, Barclays PLC boosted its stake in shares of Applied Digital by 5,204.1% during the 4th 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. Institutional investors and hedge funds own 48.42% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. B. Riley cut their price objective on Applied Digital from $8.00 to $7.00 in a report on Tuesday, January 10th. HC Wainwright initiated coverage on Applied Digital in a research report on Thursday, December 22nd. They issued a "buy" rating and a $4.00 target price on the stock. Finally, Needham & Company LLC dropped their target price on Applied Digital from $5.50 to $3.70 and set a "buy" rating on the stock in a research report on Friday, January 13th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital has an average rating of "Buy" and an average target price of $6.31.

About Applied Digital

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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.

Further Reading

• Get a free copy of the StockNews.com research report on Applied Digital (APLD)
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