Barclays PLC Reduces Stock Position in Applied Digital Co. (NASDAQ:APLD)

Barclays PLC cut its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 26.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,003 shares of the company's stock after selling 130,574 shares during the quarter. Barclays PLC owned approximately 0.16% of Applied Digital worth $2,720,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APLD. Vontobel Holding Ltd. increased its position in Applied Digital by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after buying an additional 1,500 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Applied Digital by 16.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock valued at $90,000 after acquiring an additional 1,692 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position 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 purchasing an additional 2,000 shares during the period. Amalgamated Bank lifted its stake in shares of Applied Digital by 113.3% in the fourth quarter. Amalgamated Bank now owns 6,538 shares of the company's stock valued at $50,000 after buying an additional 3,473 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in Applied Digital by 34.7% in the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company's stock valued at $123,000 after acquiring an additional 4,162 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Applied Digital Price Performance

APLD traded up $0.09 during midday trading on Friday, hitting $5.30. The stock had a trading volume of 33,070,147 shares, compared to its average volume of 29,125,670. The company has a market cap of $1.19 billion, a P/E ratio of -3.06 and a beta of 5.18. Applied Digital Co. has a 1 year low of $2.98 and a 1 year high of $12.48. The business has a fifty day moving average of $5.93 and a 200 day moving average of $7.59. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last released 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). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same period in the prior year, the business posted ($0.24) EPS. As a group, equities analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.