133,300 Shares in Applied Digital Co. (NASDAQ:APLD) Bought by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC acquired a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 133,300 shares of the company's stock, valued at approximately $1,018,000. Capstone Investment Advisors LLC owned about 0.06% of Applied Digital at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in APLD. Barclays PLC raised its stake in shares of Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock worth $4,014,000 after buying an additional 428,428 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Applied Digital during the 3rd quarter valued at about $95,000. JPMorgan Chase & Co. grew its stake in shares of Applied Digital by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 56,355 shares of the company's stock worth $465,000 after purchasing an additional 8,774 shares during the last quarter. Gunderson Capital Management Inc. acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $83,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Applied Digital in the 4th quarter worth approximately $586,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Applied Digital Stock Up 4.8 %

Shares of Applied Digital stock traded up $0.25 during trading hours on Thursday, reaching $5.50. 28,915,567 shares of the company's stock were exchanged, compared to its average volume of 29,065,662. Applied Digital Co. has a fifty-two week low of $3.01 and a fifty-two week high of $12.48. The stock has a market cap of $1.24 billion, a P/E ratio of -3.18 and a beta of 5.98. 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 company has a 50 day moving average of $5.71 and a two-hundred day moving average of $7.52.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share 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 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 earned ($0.24) earnings per share. On average, sell-side analysts forecast that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Northland Securities lifted their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Cantor Fitzgerald decreased their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a 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 on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Finally, 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 target on the stock. 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 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.