Barclays PLC Decreases Holdings in Applied Digital Co. (NASDAQ:APLD)

Barclays PLC lessened its holdings in Applied Digital Co. (NASDAQ:APLD - Free Report) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after acquiring an additional 3,587,619 shares in the last quarter. Van ECK Associates Corp raised its holdings in Applied Digital by 113.8% during the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after purchasing an additional 2,344,572 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Applied Digital in the 4th quarter valued at $12,843,000. Geode Capital Management LLC grew its position in shares of Applied Digital by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after buying an additional 1,665,335 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Applied Digital by 100.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company's stock worth $13,740,000 after acquiring an additional 899,138 shares in the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Stock Performance

Shares of Applied Digital stock traded down $0.28 on Monday, reaching $5.02. 6,079,824 shares of the stock were exchanged, compared to its average volume of 28,842,072. 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 $1.13 billion, a PE ratio of -2.90 and a beta of 5.98. Applied Digital Co. has a 1-year low of $2.99 and a 1-year high of $12.48. The business has a fifty day moving average price of $5.87 and a two-hundred day moving average price of $7.57.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly 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 business had revenue of $52.92 million during the quarter, compared to analyst estimates 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 in the prior year, the business earned ($0.24) earnings per share. As a group, research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

APLD has been the subject of several research analyst reports. Compass Point began coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Needham & Company LLC reaffirmed 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 decreased their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Northland Securities lifted their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Finally, HC Wainwright lowered their price objective on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company 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.