D. E. Shaw & Co. Inc. purchased a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,046,595 shares of the company's stock, valued at approximately $7,996,000. D. E. Shaw & Co. Inc. owned about 0.47% of Applied Digital at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG lifted its position in Applied Digital by 680.1% during the fourth quarter. Deutsche Bank AG now owns 667,597 shares of the company's stock worth $5,100,000 after buying an additional 582,016 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Applied Digital during the 4th quarter worth approximately $11,029,000. Concentric Capital Strategies LP acquired a new stake in shares of Applied Digital in the fourth quarter valued at $1,325,000. Corton Capital Inc. acquired a new stake in Applied Digital in the 4th quarter valued at about $143,000. Finally, Brevan Howard Capital Management LP lifted its stake in Applied Digital by 133.3% in the fourth quarter. Brevan Howard Capital Management LP now owns 126,957 shares of the company's stock worth $970,000 after acquiring an additional 508,557 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have issued reports on the company. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research report on Wednesday, April 23rd. Northland Securities lifted their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Cantor Fitzgerald dropped 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 note on Tuesday, April 15th. Finally, HC Wainwright cut their price objective on Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has a consensus rating of "Buy" and an average price target of $10.67.
Check Out Our Latest Research Report on Applied Digital
Applied Digital Stock Performance
Shares of APLD opened at $5.59 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a 12-month low of $3.01 and a 12-month high of $12.48. The stock has a market cap of $1.26 billion, a P/E ratio of -3.23 and a beta of 5.98. The company has a 50-day moving average of $5.54 and a two-hundred day moving average of $7.40.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its 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). The firm had revenue of $52.92 million during the quarter, compared to analysts' expectations 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 company posted ($0.24) earnings per share. As a group, research analysts predict that Applied Digital Co. will post -0.96 EPS for the current fiscal year.
About Applied Digital
(
Free Report)
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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