Numerai GP LLC Acquires Shares of 103,366 Applied Digital Co. (NASDAQ:APLD)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB increased its holdings in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd bought a new stake in Applied Digital during the 4th quarter worth $36,000. US Bancorp DE acquired a new position in Applied Digital in the 4th quarter worth about $37,000. Jones Financial Companies Lllp bought a new position in Applied Digital in the fourth quarter valued at about $39,000. Finally, Spire Wealth Management acquired a new stake in shares of Applied Digital during the fourth quarter valued at about $43,000. Institutional investors own 65.67% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald dropped their price objective on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. HC Wainwright dropped their price target 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. Northland Securities lifted their price target on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Compass Point initiated coverage on Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 target price on shares of Applied Digital in a research report on Wednesday, April 23rd. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $10.67.

Applied Digital Trading Down 4.1%

Shares of NASDAQ:APLD traded down $0.28 during midday trading on Monday, reaching $6.55. The company's stock had a trading volume of 20,241,511 shares, compared to its average volume of 29,852,893. Applied Digital Co. has a fifty-two week low of $3.01 and a fifty-two week high of $12.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $7.39. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.79 and a beta of 5.98.

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

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.