Calamos Advisors LLC Purchases Shares of 166,600 Applied Digital Co. (NASDAQ:APLD)

Calamos Advisors LLC acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD) in the 4th quarter, Holdings Channel.com reports. The fund acquired 166,600 shares of the company’s stock, valued at approximately $1,273,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Applied Digital by 36.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 899,293 shares of the company’s stock valued at $7,419,000 after buying an additional 240,554 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Applied Digital during the 3rd quarter valued at approximately $545,000. Exchange Traded Concepts LLC grew its holdings in shares of Applied Digital by 37.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company’s stock valued at $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Barclays PLC increased its position in Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock worth $4,014,000 after purchasing an additional 428,428 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Applied Digital by 414.5% during the fourth quarter. SG Americas Securities LLC now owns 265,792 shares of the company’s stock valued at $2,031,000 after purchasing an additional 214,133 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on APLD. Compass Point began coverage on shares of Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price on the stock. Lake Street Capital upped their price objective on Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. HC Wainwright lifted their target price on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Cantor Fitzgerald cut their target price on Applied Digital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 15th. Finally, Craig Hallum raised their price target on Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital has an average rating of “Buy” and an average price target of $12.11.

Applied Digital Price Performance

APLD opened at $7.69 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The business has a fifty day moving average of $8.73 and a 200 day moving average of $7.11. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $11.25. The stock has a market cap of $1.71 billion, a P/E ratio of -4.45 and a beta of 4.78.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.08. The firm had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business’s revenue was up 51.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current year.

Insiders Place Their Bets

In other Applied Digital news, CEO Wes Cummins sold 200,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $9.20, for a total transaction of $1,840,000.00. Following the transaction, the chief executive officer now directly owns 3,875,955 shares in the company, valued at $35,658,786. This represents a 4.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 19,369 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $7.51, for a total transaction of $145,461.19. Following the completion of the sale, the director now owns 384,317 shares of the company’s stock, valued at approximately $2,886,220.67. This represents a 4.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 289,369 shares of company stock worth $2,622,461 in the last three months. Corporate insiders own 11.81% of the company’s stock.

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.