Two Seas Capital LP Invests $5.06 Million in Applied Digital Co. (NASDAQ:APLD)

Two Seas Capital LP bought a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 662,587 shares of the company's stock, valued at approximately $5,062,000. Applied Digital makes up approximately 0.4% of Two Seas Capital LP's investment portfolio, making the stock its 21st biggest holding. Two Seas Capital LP owned about 0.30% of Applied Digital as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in shares of Applied Digital by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 119,963 shares of the company's stock worth $917,000 after acquiring an additional 58,943 shares during the last quarter. Vanguard Group Inc. boosted its position in Applied Digital by 39.1% during the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock valued at $97,487,000 after buying an additional 3,587,619 shares during the period. Rhumbline Advisers increased its holdings in Applied Digital by 68.7% during the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock valued at $1,978,000 after purchasing an additional 105,428 shares during the period. Exchange Traded Concepts LLC raised its holdings in Applied Digital by 37.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,002,090 shares of the company's stock worth $7,656,000 after purchasing an additional 273,666 shares in the last quarter. Finally, Numerai GP LLC purchased a new position in shares of Applied Digital during the fourth quarter valued at about $790,000. Institutional investors own 65.67% of the company's stock.

Applied Digital Stock Performance

NASDAQ:APLD opened at $6.73 on Wednesday. The firm has a market capitalization of $1.51 billion, a PE ratio of -3.89 and a beta of 5.98. Applied Digital Co. has a fifty-two week low of $3.01 and a fifty-two week high of $12.48. The stock's fifty day moving average is $5.56 and its 200 day moving average is $7.39. 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 announced its quarterly earnings data 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 net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, sell-side analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analysts Set New Price Targets

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

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.

Want to see what other hedge funds are holding APLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Digital Co. (NASDAQ:APLD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.