103,366 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Numerai GP LLC

Numerai GP LLC acquired a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 103,366 shares of the company's stock, valued at approximately $790,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its position in Applied Digital by 73.0% during the fourth quarter. Janus Henderson Group PLC now owns 78,700 shares of the company's stock worth $601,000 after purchasing an additional 33,200 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Applied Digital during the fourth quarter worth about $7,996,000. Deutsche Bank AG increased its position in Applied Digital by 680.1% during the fourth quarter. Deutsche Bank AG now owns 667,597 shares of the company's stock worth $5,100,000 after purchasing an additional 582,016 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Applied Digital during the fourth quarter worth about $11,029,000. Finally, Concentric Capital Strategies LP purchased a new position in Applied Digital during the fourth quarter worth about $1,325,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Trading Up 6.6%

NASDAQ APLD opened at $5.98 on Thursday. The firm has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $7.42. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. Applied Digital Co. has a one year low of $3.01 and a one year high of $12.48. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -3.46 and a beta of 5.98.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $52.92 million during the quarter, compared to analysts' expectations of $62.91 million. During the same period in the previous year, the business posted ($0.24) EPS. Equities research analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on APLD shares. Cantor Fitzgerald lowered their target price on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Compass Point started coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price for the company. HC Wainwright lowered their target price on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Finally, Northland Securities increased their target price on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $10.67.

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.

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