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 $51.15 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 Thursday at a closing price of $5.15, with 2.7 million shares of worth about $13.89 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -48.50% during that period and on Thursday, January 25 the price saw a gain of about 7.74%. Currently the company’s common shares owned by public are about 95.93M shares, out of which, 78.32M 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 56 times over the past 12 months. They bought 1,245,103 shares in 35 of the transactions. In 21 selling transactions, insiders dumped 828,300 shares.
American Funds Small Cap World Fu, Hood River Small-Cap Growth Fund, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Applied Digital Corporation American Funds Small Cap World Fu is currently holding 6.82 million shares of worth totaling $45.96 million. The company recently came buying 5.6 million shares which brought its stake up to 6.42% of the company’s outstanding shares. Hood River Small-Cap Growth Fund bought 1.03 million shares, after which its hold over company’s outstanding shares expand to 3.39%, leaving 3.61 million shares with the mutual fund that have a worth of about $24.3 million. iShares Russell 2000 ETF, after selling 2.22 million shares, have now control over 2.09% of the stake in the company. It holds 5868.0 shares of worth $14.94 million.
However, the stock later moved at a day high price of 5.21, or with a gain of 7.74%. Stock saw a price change of 4.46% in past 5 days and over the past one month there was a price change of -28.37%. Year-to-date (YTD), APLD shares are showing a performance of -23.59% which increased to 105.18% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.74 but also hit the highest price of $11.62 during that period. The average intraday trading volume for Applied Digital Corporation shares is 3.41 million. The stock is currently trading -21.79% below its 20-day simple moving average (SMA20), while that difference is down -12.30% for SMA50 and it goes to -17.08% lower than SMA200.
Hood River Capital Management LLC acquired 7.59 million shares of Applied Digital Corporation having value of about $51.15 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 $8959506.5, 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 46.52% of that. Holding of mutual funds in the company is about 25.60% while other institutional holders and individual stake holders have control over 26.90% and 25.55% of the stake respectively.
The stock has a current market capitalization of $606.31M and its 3Y-monthly beta is at 4.10. It has posted earnings per share of -$0.35 in the same period. It has Quick Ratio of 0.18 while making debt-to-equity ratio of 1.18. 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 7.88% while standing at 9.10% 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 $0.06 and it is $0.54 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.24 which is $0.13 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 -$0.08 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 96.26% while it is estimated to increase by 4343.71% in next year.
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.
