TENOR CAPITAL MANAGEMENT Co. L.P. Invests $1.53 Million in Applied Digital Co. (NASDAQ:APLD)

TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 200,000 shares of the company's stock, valued at approximately $1,528,000. TENOR CAPITAL MANAGEMENT Co. L.P. owned 0.09% of Applied Digital as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB boosted its holdings in Applied Digital by 100.0% in the fourth 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 last quarter. R Squared Ltd acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $36,000. US Bancorp DE acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp bought a new stake in shares of Applied Digital in the 4th quarter valued at $39,000. Finally, Spire Wealth Management acquired a new stake in shares of Applied Digital during the fourth quarter worth $43,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Applied Digital Stock Up 9.1%

Applied Digital stock traded up $0.62 during midday trading on Thursday, reaching $7.40. The stock had a trading volume of 31,797,933 shares, compared to its average volume of 30,431,996. The company has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $7.39. The company has a market capitalization of $1.66 billion, a P/E ratio of -4.28 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. Applied Digital Co. has a 12 month low of $3.01 and a 12 month high of $12.48.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. During the same period in the previous year, the company earned ($0.24) earnings per share. As a group, equities analysts expect that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. HC Wainwright lowered their target price 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. Northland Securities lifted their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 4th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Wednesday, April 23rd. Citizens Jmp initiated coverage on Applied Digital in a research note on Thursday. They set an "outperform" rating and a $12.00 target price for the company. Finally, Cantor Fitzgerald lowered their target price on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $10.91.

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.