Hood River Capital Management LLC has recently announced that it has increased stake in Applied Digital Corporation (NASDAQ:APLD) by 29.74%. After grabbing 7.59 million shares, the institutional investor is now in possession of 1.74 million shares of the Financial Company. The new investment brought the stake of investor firm to 7.14% having worth around $35.44 million. Moreover, BlackRock Fund Advisors increased its share by 0.89 million to have a control over 4.03 million shares. And The Vanguard Group, Inc. raised its holdings to 0.89 million shares by acquiring 3.14 million shares or 2.96% of the stake.
Applied Digital Corporation (APLD) concluded trading on 12/27/23 at a closing price of $7.55, with 3.49 million shares of worth about $26.37 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -2.39% during that period and on Wednesday the price saw a gain of about 6.94%. Currently the company’s common shares owned by public are about 95.93M shares, out of which, 70.05M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 63 times over the past 12 months. They bought 1,465,103 shares in 40 of the transactions. In 23 selling transactions, insiders dumped 836,417 shares.
Hood River Small-Cap Growth Fund, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Applied Digital Corporation Hood River Small-Cap Growth Fund is currently holding 3.61 million shares of worth totaling $16.84 million. The company recently came buying 1.03 million shares which brought its stake up to 3.39% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 1.65 million shares, have now control over 1.55% of the stake in the company. It holds 810.0 shares of worth $7.7 million.
Applied Digital Corporation (NASDAQ: APLD) started trading at $7.18, above $0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 7.58, or with a gain of 6.94%. Stock saw a price change of 11.69% in past 5 days and over the past one month there was a price change of 63.42%. Year-to-date (YTD), APLD shares are showing a performance of 310.33% which increased to 293.23% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.61 but also hit the highest price of $11.62 during that period. The average intraday trading volume for Applied Digital Corporation shares is 3.49 million. The stock is currently trading 25.19% above its 20-day simple moving average (SMA20), while that difference is up 42.96% for SMA50 and it goes to 30.44% higher than SMA200.
Hood River Capital Management LLC acquired 7.59 million shares of Applied Digital Corporation having value of about $35.44 million. Data submitted at the U.S SEC by Hood River Capital Management LLC revealed that the firm now holds 1.74 million shares in the company valued at close to $13134810.5, or have control over 29.74% stake in the company. Applied Digital Corporation (NASDAQ: APLD) currently have 95.93M outstanding shares and institutions hold larger chunk of about 51.35% of that. Holding of mutual funds in the company is about 25.60% while other institutional holders and individual stake holders have control over 31.84% and 19.87% of the stake respectively.
The stock has a current market capitalization of $799.17M and its 3Y-monthly beta is at 3.90. It has posted earnings per share of -$0.54 in the same period. It has Quick Ratio of 0.22 while making debt-to-equity ratio of 0.81. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for APLD, volatility over the week remained 6.58% while standing at 8.39% over the month.
Analysts are in expectations that Applied Digital Corporation (APLD) stock would likely to be making an EPS of $0.01 in the current quarter, while forecast for next quarter EPS is $0.19 and it is $1.05 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.07 which is $0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.29 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 200.00% while it is estimated to increase by 200.82% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Applied Digital Corporation (APLD)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 7 Wall Street analysts, 7 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by ROTH MKM on October 03, 2023 offering a Buy rating for the stock and assigned a target price of $14 to it.