254,331 Shares in Applied Digital Co. (NASDAQ:APLD) Purchased by Two Sigma Investments LP

Two Sigma Investments LP acquired a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 254,331 shares of the company's stock, valued at approximately $1,943,000. Two Sigma Investments LP owned about 0.11% of Applied Digital 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 position in shares of Applied Digital by 100.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after buying an additional 2,000 shares in the last quarter. R Squared Ltd purchased a new position in Applied Digital in the fourth quarter worth about $36,000. US Bancorp DE bought a new stake in Applied Digital during the fourth quarter worth approximately $37,000. Jones Financial Companies Lllp purchased a new stake in Applied Digital during the fourth quarter valued at approximately $39,000. Finally, Spire Wealth Management purchased a new stake in Applied Digital during the fourth quarter valued at approximately $43,000. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Trading Up 1.1%

Shares of NASDAQ:APLD traded up $0.11 on Tuesday, hitting $10.25. 150,246,092 shares of the company's stock were exchanged, compared to its average volume of 33,631,281. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -5.92 and a beta of 6.09. Applied Digital Co. has a 12 month low of $3.01 and a 12 month high of $12.48. 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 business's 50 day simple moving average is $5.61 and its two-hundred day simple moving average is $7.42.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted its quarterly 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 company 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 period in the prior year, the business earned ($0.24) EPS. Analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on APLD shares. Cantor Fitzgerald dropped 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. Citizens Jmp upgraded Applied Digital to a "strong-buy" rating and set a $12.00 price target for the company in a research report on Thursday, May 22nd. Craig Hallum boosted their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday. Northland Securities increased their target price on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Finally, HC Wainwright raised their target price on shares of Applied Digital from $7.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Applied Digital has an average rating of "Buy" and a consensus target price of $11.91.

Insider Transactions at Applied Digital

In related news, Director Rachel H. Lee sold 24,212 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the sale, the director now owns 83,613 shares in the company, valued at approximately $585,291. The trade was a 22.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.81% of the company's stock.

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.