Alight Capital Management LP Increases Holdings in Applied Digital Co. (NASDAQ:APLD)

Alight Capital Management LP lifted its holdings in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 75.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 175,000 shares of the company's stock after purchasing an additional 75,000 shares during the quarter. Alight Capital Management LP owned approximately 0.08% of Applied Digital worth $1,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wilmington Savings Fund Society FSB boosted its holdings in shares of Applied Digital by 100.0% during the 4th 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 during the period. R Squared Ltd bought a new stake in shares of Applied Digital during the fourth quarter worth $36,000. US Bancorp DE bought a new position in Applied Digital in the fourth quarter valued at approximately $37,000. Jones Financial Companies Lllp bought a new position in Applied Digital during the 4th quarter worth approximately $39,000. Finally, Spire Wealth Management acquired a new stake in shares of Applied Digital during the fourth quarter worth $43,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Wall Street Analyst Weigh In

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

Applied Digital Price Performance

Applied Digital stock traded down $0.13 during mid-day trading on Monday, hitting $5.17. The stock had a trading volume of 32,440,334 shares, compared to its average volume of 29,165,813. Applied Digital Co. has a one year low of $2.99 and a one year high of $12.48. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $1.16 billion, a P/E ratio of -2.99 and a beta of 5.98. The firm's 50 day moving average is $5.87 and its 200 day moving average is $7.57.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same period last year, the business earned ($0.24) earnings per share. On average, sell-side analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal 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.