Applied Digital Co. (NASDAQ:APLD) Shares Sold by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL lowered its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 359,873 shares of the company's stock after selling 173,837 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.16% of Applied Digital worth $2,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB increased its position in 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 buying an additional 2,000 shares during the period. R Squared Ltd purchased a new position in shares of Applied Digital during the fourth quarter worth approximately $36,000. US Bancorp DE acquired a new position in shares of Applied Digital in the 4th quarter valued at $37,000. Jones Financial Companies Lllp purchased a new stake in Applied Digital in the 4th quarter valued at $39,000. Finally, Spire Wealth Management acquired a new stake in Applied Digital during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 65.67% of the company's stock.

Applied Digital Price Performance

Applied Digital stock traded up $0.09 during midday trading on Friday, reaching $5.30. The company's stock had a trading volume of 33,070,147 shares, compared to its average volume of 29,125,670. The firm has a market capitalization of $1.19 billion, a PE ratio of -3.06 and a beta of 5.98. Applied Digital Co. has a fifty-two week low of $2.98 and a fifty-two week high of $12.48. The stock's 50 day simple moving average is $5.87 and its 200 day simple moving average is $7.57. 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 announced its quarterly earnings data 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 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 quarter last year, the business earned ($0.24) EPS. On average, equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Applied Digital

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.