Applied Digital Co. (NASDAQ:APLD) is Oasis Management Co Ltd.'s Largest Position

Oasis Management Co Ltd. trimmed its position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 35.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,563,147 shares of the company's stock after selling 3,621,163 shares during the period. Applied Digital accounts for 11.2% of Oasis Management Co Ltd.'s portfolio, making the stock its largest holding. Oasis Management Co Ltd. owned 2.94% of Applied Digital worth $50,142,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of APLD. Janus Henderson Group PLC raised its holdings in Applied Digital by 73.0% during the fourth quarter. Janus Henderson Group PLC now owns 78,700 shares of the company's stock valued at $601,000 after acquiring an additional 33,200 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Applied Digital during the 4th quarter valued at approximately $7,996,000. Deutsche Bank AG lifted its holdings in Applied Digital by 680.1% in the 4th 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 in the last quarter. Driehaus Capital Management LLC bought a new position in Applied Digital in the 4th quarter worth approximately $11,029,000. Finally, Concentric Capital Strategies LP bought a new stake in shares of Applied Digital during the fourth quarter valued at approximately $1,325,000. Hedge funds and other institutional investors own 65.67% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. HC Wainwright cut 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. Cantor Fitzgerald decreased 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 report on Tuesday, April 15th. Compass Point assumed coverage on shares of Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. Northland Securities upped 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Digital presently has an average rating of "Buy" and a consensus price target of $10.67.

Applied Digital Price Performance

Shares of APLD stock opened at $5.31 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $1.19 billion, a P/E ratio of -3.07 and a beta of 5.98. The stock's 50-day moving average is $5.60 and its 200 day moving average is $7.44. 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 issued its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million during the quarter, compared to analyst estimates 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 prior year, the business posted ($0.24) EPS. Research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Applied Digital 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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