Applied Digital Co. (NASDAQ:APLD) Shares Purchased by Think Investments LP

Think Investments LP raised its position in Applied Digital Co. (NASDAQ:APLD - Free Report) by 27.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,060,136 shares of the company's stock after buying an additional 441,291 shares during the quarter. Applied Digital makes up approximately 3.5% of Think Investments LP's portfolio, making the stock its 13th biggest position. Think Investments LP owned approximately 0.92% of Applied Digital worth $15,739,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB increased its position in Applied Digital by 100.0% in the 4th 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 period. R Squared Ltd acquired a new stake in Applied Digital during the 4th quarter worth approximately $36,000. US Bancorp DE purchased a new position in shares of Applied Digital in the 4th quarter valued at approximately $37,000. Jones Financial Companies Lllp acquired a new position in shares of Applied Digital in the fourth quarter valued at approximately $39,000. Finally, Spire Wealth Management purchased a new stake in shares of Applied Digital during the fourth quarter worth approximately $43,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Applied Digital Price Performance

APLD traded up $0.80 during trading on Thursday, reaching $7.58. 37,155,187 shares of the stock were exchanged, compared to its average volume of 30,496,086. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -4.38 and a beta of 5.98. Applied Digital Co. has a 1 year low of $3.01 and a 1 year high of $12.48. The business's 50 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 released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) 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 analysts' expectations 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 in the prior year, the firm earned ($0.24) earnings per share. As a group, equities research analysts anticipate 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.