Applied Digital Co. (NASDAQ:APLD) Stake Increased by Deutsche Bank AG

Deutsche Bank AG boosted its holdings in Applied Digital Co. (NASDAQ:APLD - Free Report) by 680.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 667,597 shares of the company's stock after purchasing an additional 582,016 shares during the period. Deutsche Bank AG owned about 0.30% of Applied Digital worth $5,100,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of APLD. Hood River Capital Management LLC raised its stake in Applied Digital by 10.7% during the fourth quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after acquiring an additional 1,464,854 shares during the period. Vanguard Group Inc. raised its position in shares of Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after purchasing an additional 3,587,619 shares during the period. Geode Capital Management LLC raised its position in shares of Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the period. Van ECK Associates Corp raised its position in shares of Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after purchasing an additional 2,344,572 shares during the period. Finally, Pertento Partners LLP raised its holdings in shares of Applied Digital by 49.0% during the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock valued at $19,319,000 after buying an additional 831,705 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company's stock.

Wall Street Analysts Forecast Growth

APLD has been the topic of a number of recent analyst reports. 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 report on Tuesday, April 15th. Northland Securities raised 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. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research note on Wednesday, April 23rd. Citizens Jmp started coverage on Applied Digital in a research note on Thursday. They set an "outperform" rating and a $12.00 price target for the company. Finally, Cantor Fitzgerald decreased their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital presently has a consensus rating of "Buy" and a consensus target price of $10.91.

Applied Digital Price Performance

Applied Digital stock traded up $0.42 during mid-day trading on Thursday, hitting $7.20. The company's stock had a trading volume of 18,271,827 shares, compared to its average volume of 30,287,570. 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 stock has a market capitalization of $1.62 billion, a P/E ratio of -4.16 and a beta of 5.98. Applied Digital Co. has a twelve month low of $3.01 and a twelve month high of $12.48. The stock's fifty day moving average price is $5.55 and its two-hundred day moving average price is $7.39.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. During the same quarter last year, the firm posted ($0.24) EPS. Research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Applied Digital Company 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.