Bulltick Wealth Management LLC Makes New Investment in Applied Digital Co. (NASDAQ:APLD)

Bulltick Wealth Management LLC acquired a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 89,125 shares of the company's stock, valued at approximately $681,000.

Other large investors also recently bought and sold shares of the company. Vontobel Holding Ltd. grew its stake 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 acquiring an additional 1,500 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Applied Digital by 16.8% in the fourth 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 grew its stake in Applied Digital by 100.0% during 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 in the last quarter. Amalgamated Bank boosted its holdings in shares of Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after purchasing an additional 3,473 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings 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 buying an additional 4,162 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Price Performance

Applied Digital stock opened at $5.30 on Monday. Applied Digital Co. has a 52 week low of $2.98 and a 52 week high of $12.48. The firm has a market capitalization of $1.19 billion, a PE ratio of -3.06 and a beta of 5.98. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm's 50-day simple moving average is $5.87 and its 200 day simple moving average is $7.57.

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 during the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, equities research analysts predict that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on APLD. Cantor Fitzgerald decreased their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price target on shares of Applied Digital in a research report on Wednesday, April 23rd. HC Wainwright cut their price target 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. Compass Point assumed coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target for the company. Finally, Northland Securities lifted their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company 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.

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