Wells Fargo & Company MN boosted its position in Applied Digital Co. (NASDAQ:APLD - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,963 shares of the company's stock after purchasing an additional 58,943 shares during the quarter. Wells Fargo & Company MN owned about 0.05% of Applied Digital worth $917,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in APLD. Vanguard Group Inc. boosted its stake in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after buying an additional 3,587,619 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Applied Digital by 68.7% in the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock valued at $1,978,000 after purchasing an additional 105,428 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Applied Digital by 37.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company's stock valued at $7,656,000 after buying an additional 273,666 shares during the period. Barclays PLC raised its position in Applied Digital by 736.8% during the third quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after buying an additional 428,428 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Applied Digital during the fourth quarter valued at $2,546,000. 65.67% of the stock is owned by institutional investors.
Applied Digital Price Performance
Shares of NASDAQ:APLD opened at $4.54 on Thursday. The business has a 50 day moving average price of $6.00 and a 200 day moving average price of $7.61. Applied Digital Co. has a twelve month low of $2.63 and a twelve month high of $12.48. The company has a market cap of $1.02 billion, a price-to-earnings ratio of -2.62 and a beta of 5.18. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22.
Applied Digital (NASDAQ:APLD - Get Free Report) last posted its earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company 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 last year, the business earned ($0.24) EPS. Research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on APLD shares. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Applied Digital in a research report on Wednesday, April 23rd. Cantor Fitzgerald dropped their target price on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. HC Wainwright lowered their price objective on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Northland Securities increased their price objective on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Finally, Compass Point began coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $10.67.
Read Our Latest Stock Analysis on Applied Digital
Applied Digital Profile
(
Free Report)
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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