173,365 Shares in Applied Digital Co. (NASDAQ:APLD) Bought by Concentric Capital Strategies LP

Concentric Capital Strategies LP acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 173,365 shares of the company's stock, valued at approximately $1,325,000. Concentric Capital Strategies LP owned approximately 0.08% of Applied Digital at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares during the last quarter. R Squared Ltd purchased a new stake in Applied Digital in the 4th quarter valued at about $36,000. US Bancorp DE bought a new position in shares of Applied Digital during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp purchased a new position in shares of Applied Digital in the 4th quarter worth approximately $39,000. Finally, Spire Wealth Management bought a new position in shares of Applied Digital in the fourth quarter valued at approximately $43,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on APLD shares. HC Wainwright cut their price objective on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price target on shares of Applied Digital in a report on Wednesday, April 23rd. Compass Point initiated coverage on shares of Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. Cantor Fitzgerald dropped their target price on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Northland Securities raised their price target 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $10.67.

Applied Digital Trading Up 0.6 %

Shares of APLD stock opened at $5.24 on Thursday. The company's fifty day simple moving average is $5.71 and its two-hundred day simple moving average is $7.52. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.03 and a beta of 5.98. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. Applied Digital Co. has a 1 year low of $3.01 and a 1 year high of $12.48.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced 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 firm had revenue of $52.92 million during the quarter, compared to analysts' expectations 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 period in the previous year, the company posted ($0.24) earnings per share. As a group, analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current year.

Applied Digital Company 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.

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