Applied Digital Co. (NASDAQ:APLD) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 29.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,683,873 shares of the company's stock after selling 690,291 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.76% of Applied Digital worth $12,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC boosted its stake in shares of Applied Digital by 736.8% in the third quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after buying an additional 428,428 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Applied Digital by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 56,355 shares of the company's stock valued at $465,000 after acquiring an additional 8,774 shares during the period. SeaCrest Wealth Management LLC purchased a new stake in Applied Digital in the 4th quarter worth approximately $586,000. Nisa Investment Advisors LLC boosted its position in Applied Digital by 16.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock worth $90,000 after purchasing an additional 1,692 shares in the last quarter. Finally, Dakota Wealth Management acquired a new stake in shares of Applied Digital during the 4th quarter worth approximately $115,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Applied Digital Trading Down 6.5%

APLD stock opened at $5.59 on Friday. Applied Digital Co. has a 12-month low of $3.01 and a 12-month high of $12.48. The business's 50-day moving average is $5.54 and its 200 day moving average is $7.40. 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 stock has a market cap of $1.26 billion, a price-to-earnings ratio of -3.23 and a beta of 5.98.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. During the same period in the prior year, the firm earned ($0.24) earnings per share. On average, sell-side analysts anticipate that Applied Digital Co. will post -0.96 EPS 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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