Thomist Capital Management LP Has $596,000 Holdings in Applied Digital Co. (NASDAQ:APLD)

Thomist Capital Management LP cut its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 81.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,756 shares of the company's stock after selling 321,900 shares during the period. Thomist Capital Management LP's holdings in Applied Digital were worth $596,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB raised its holdings in shares of Applied Digital by 100.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after buying an additional 2,000 shares in 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 acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $39,000. Finally, Spire Wealth Management acquired a new position in shares of Applied Digital in the 4th quarter worth approximately $43,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Stock Up 22.2%

NASDAQ APLD opened at $6.83 on Friday. The stock has a fifty day moving average of $5.54 and a 200-day moving average of $7.39. The stock has a market capitalization of $1.53 billion, a P/E ratio of -3.95 and a beta of 5.98. Applied Digital Co. has a 52 week low of $3.01 and a 52 week high of $12.48. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm 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 last year, the business posted ($0.24) earnings per share. On average, equities research analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

APLD has been the subject of a number of recent analyst reports. Compass Point initiated 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 reaffirmed a "buy" rating and set a $10.00 price target on shares of Applied Digital in a report on Wednesday, April 23rd. Northland Securities raised their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. HC Wainwright dropped their price target on Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, Cantor Fitzgerald dropped their price target on Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital has a consensus rating of "Buy" and an average price target of $10.67.

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.

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