TENOR CAPITAL MANAGEMENT Co. L.P. Acquires Shares of 200,000 Applied Digital Co. (NASDAQ:APLD)

TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in Applied Digital Co. (NASDAQ:APLD - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 200,000 shares of the company's stock, valued at approximately $1,528,000. TENOR CAPITAL MANAGEMENT Co. L.P. owned approximately 0.09% of Applied Digital at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in APLD. Hood River Capital Management LLC raised its holdings in shares of Applied Digital by 10.7% during the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock worth $115,726,000 after buying an additional 1,464,854 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 buying an additional 3,587,619 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 1,665,335 shares in the last quarter. Van ECK Associates Corp raised its holdings 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 buying an additional 2,344,572 shares in the last quarter. Finally, Pertento Partners LLP raised its holdings in shares of Applied Digital by 49.0% during the 4th quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock worth $19,319,000 after buying an additional 831,705 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APLD has been the subject of a number of research analyst reports. Northland Securities boosted their price target on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective on the stock. HC Wainwright reduced their price objective on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald reduced their price objective on Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Applied Digital presently has an average rating of "Buy" and an average target price of $10.67.

Applied Digital Trading Up 22.2%

Shares of APLD stock opened at $6.83 on Friday. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -3.95 and a beta of 5.98. The stock has a 50-day moving average of $5.54 and a 200-day moving average of $7.39. 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 1-year low of $3.01 and a 1-year high of $12.48.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued 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 analyst estimates 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 previous year, the company posted ($0.24) EPS. On average, equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

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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