Tower Research Capital LLC TRC Buys 6,347 Shares of Applied Digital Co. (NASDAQ:APLD)

Tower Research Capital LLC TRC grew its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 380.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,017 shares of the company’s stock after purchasing an additional 6,347 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Applied Digital were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in APLD. Capital Research Global Investors lifted its stake in Applied Digital by 427.2% in the fourth quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock valued at $49,453,000 after acquiring an additional 5,945,559 shares during the last quarter. Equitec Proprietary Markets LLC lifted its stake in Applied Digital by 415.4% in the 4th quarter. Equitec Proprietary Markets LLC now owns 4,168,657 shares of the company’s stock valued at $28,097,000 after purchasing an additional 3,359,845 shares during the last quarter. Vanguard Group Inc. grew its holdings in Applied Digital by 40.6% during the third quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company’s stock worth $20,814,000 after purchasing an additional 963,390 shares during the period. Van ECK Associates Corp increased its position in Applied Digital by 57.9% during the fourth quarter. Van ECK Associates Corp now owns 1,263,034 shares of the company’s stock worth $8,513,000 after buying an additional 463,172 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Applied Digital by 110.9% in the third quarter. William Blair Investment Management LLC now owns 1,152,940 shares of the company’s stock valued at $7,194,000 after buying an additional 606,347 shares during the period. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

Shares of Applied Digital stock traded down $0.23 during trading on Monday, reaching $2.71. The company’s stock had a trading volume of 3,192,447 shares, compared to its average volume of 3,661,335. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $11.62. The firm has a market cap of $332.63 million, a PE ratio of -3.43 and a beta of 4.12. The business’s 50-day moving average price is $3.74 and its 200-day moving average price is $4.90. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.90.

Insider Buying and Selling at Applied Digital

In other news, Director Virginia Moore sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $4.74, for a total transaction of $142,200.00. Following the transaction, the director now directly owns 148,630 shares of the company’s stock, valued at $704,506.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC reduced their target price on Applied Digital from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, April 12th. B. Riley decreased their price objective on shares of Applied Digital from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Lake Street Capital cut their target price on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Finally, Roth Mkm decreased their price target on shares of Applied Digital from $13.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Five investment 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 $9.20.

About Applied Digital

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.