Gunderson Capital Management Inc. Takes Position in Applied Digital Co. (NASDAQ:APLD)

Gunderson Capital Management Inc. acquired a new position in shares of Applied Digital Co. (NASDAQ:APLD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,892 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Applied Digital by 48.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock valued at $25,258,000 after acquiring an additional 1,002,862 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in Applied Digital by 8.7% during the second quarter. Hood River Capital Management LLC now owns 9,596,231 shares of the company’s stock valued at $57,098,000 after purchasing an additional 771,699 shares in the last quarter. Alight Capital Management LP bought a new stake in shares of Applied Digital in the 2nd quarter valued at approximately $3,570,000. Barclays PLC grew its stake in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after purchasing an additional 428,428 shares during the period. Finally, Thomist Capital Management LP acquired a new position in shares of Applied Digital in the 2nd quarter worth approximately $2,529,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Down 6.4 %

Shares of APLD opened at $7.76 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.22 and a current ratio of 0.22. Applied Digital Co. has a 52 week low of $2.36 and a 52 week high of $11.25. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -6.63 and a beta of 4.78. The business’s fifty day moving average price is $8.70 and its two-hundred day moving average price is $6.92.

Insider Buying and Selling

In related news, CEO Wes Cummins sold 200,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 3,875,955 shares in the company, valued at approximately $35,658,786. The trade was a 4.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas S. Miller sold 10,000 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $8.01, for a total transaction of $80,100.00. Following the completion of the sale, the director now owns 208,506 shares in the company, valued at approximately $1,670,133.06. This trade represents a 4.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,369 shares of company stock worth $2,525,561 over the last three months. 11.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APLD shares. Cantor Fitzgerald began coverage on shares of Applied Digital in a research note on Friday, December 20th. They issued an “overweight” rating and a $15.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a research report on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Applied Digital in a report on Friday, November 1st. HC Wainwright lifted their target price on shares of Applied Digital from $5.00 to $10.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Lake Street Capital raised their price target on Applied Digital from $7.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $11.14.

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.