Vennlight Capital Management LP Takes Position in Applied Digital Co. (NASDAQ:APLD)

Vennlight Capital Management LP purchased a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 364,713 shares of the company's stock, valued at approximately $2,786,000. Applied Digital comprises about 2.6% of Vennlight Capital Management LP's investment portfolio, making the stock its 11th largest position. Vennlight Capital Management LP owned approximately 0.16% of Applied Digital at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC lifted its stake in shares of Applied Digital by 10.7% in the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock valued at $115,726,000 after acquiring an additional 1,464,854 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Applied Digital by 39.1% in the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Applied Digital by 54.4% in the fourth 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 during the period. Van ECK Associates Corp raised its holdings in Applied Digital by 113.8% during the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock valued at $33,649,000 after buying an additional 2,344,572 shares during the last quarter. Finally, Pertento Partners LLP boosted its position in Applied Digital by 49.0% during the 4th quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock valued at $19,319,000 after buying an additional 831,705 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Stock Up 22.2%

Shares of Applied Digital stock opened at $6.83 on Monday. Applied Digital Co. has a 1 year low of $3.01 and a 1 year 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 company has a 50-day moving average of $5.54 and a 200 day moving average of $7.39. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -3.95 and a beta of 5.98.

Applied Digital (NASDAQ:APLD - Get Free Report) last posted 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 period last year, the business earned ($0.24) EPS. As a group, sell-side analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on APLD shares. HC Wainwright lowered their price objective on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Compass Point began coverage on Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target for the company. Cantor Fitzgerald cut 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. Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of Applied Digital in a report on Wednesday, April 23rd. Finally, Northland Securities raised their price target on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital presently has an average rating of "Buy" and a consensus target price 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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