Aristeia Capital L.L.C. Takes $2.55 Million Position in Applied Digital Co. (NASDAQ:APLD)

Aristeia Capital L.L.C. bought a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 333,300 shares of the company's stock, valued at approximately $2,546,000. Aristeia Capital L.L.C. owned about 0.15% of Applied Digital at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in APLD. Vontobel Holding Ltd. increased its holdings in shares of Applied Digital by 9.8% in the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after purchasing an additional 1,500 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Applied Digital by 16.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock valued at $90,000 after buying an additional 1,692 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after acquiring an additional 2,000 shares during the period. Amalgamated Bank lifted its position in Applied Digital by 113.3% during the fourth quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after acquiring an additional 3,473 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Applied Digital by 34.7% during the fourth quarter. HighTower Advisors LLC now owns 16,162 shares of the company's stock worth $123,000 after acquiring an additional 4,162 shares during the period. 65.67% of the stock is owned by institutional investors.

Applied Digital Trading Up 0.8 %

Shares of APLD traded up $0.04 during mid-day trading on Tuesday, reaching $5.21. 24,384,917 shares of the company were exchanged, compared to its average volume of 29,093,432. The business has a 50 day simple moving average of $5.81 and a two-hundred day simple moving average of $7.55. Applied Digital Co. has a 52 week low of $2.99 and a 52 week high of $12.48. The stock has a market capitalization of $1.17 billion, a PE ratio of -3.01 and a beta of 5.98. 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 posted its quarterly earnings data on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The firm had revenue of $52.92 million during the quarter, compared to the consensus estimate 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 company posted ($0.24) earnings per share. On average, analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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