Applied Digital Co. (NASDAQ:APLD) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Applied Digital Co. (NASDAQ:APLD - Free Report) by 294.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,383 shares of the company's stock after buying an additional 166,028 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.10% of Applied Digital worth $1,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APLD. Vontobel Holding Ltd. raised its stake in shares of Applied Digital by 9.8% in the 4th quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company's stock valued at $128,000 after acquiring an additional 1,500 shares during the period. Nisa Investment Advisors LLC increased its stake in Applied Digital by 16.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock worth $90,000 after buying an additional 1,692 shares during the period. Wilmington Savings Fund Society FSB increased its stake in Applied Digital by 100.0% during 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 during the period. Amalgamated Bank increased its stake in Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock worth $50,000 after buying an additional 3,473 shares during the period. Finally, HighTower Advisors LLC increased its stake in Applied Digital by 34.7% during the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company's stock worth $123,000 after buying an additional 4,162 shares during the period. Hedge funds and other institutional investors own 65.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. 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. Compass Point assumed coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price target on shares of Applied Digital in a research note on Wednesday, April 23rd. Cantor Fitzgerald dropped their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. Finally, Northland Securities upped 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. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $10.67.

Applied Digital Stock Down 4.9 %

Shares of APLD stock traded down $0.23 during trading hours on Tuesday, hitting $4.48. 26,177,201 shares of the company were exchanged, compared to its average volume of 28,776,209. 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 Co. has a one year low of $2.63 and a one year high of $12.48. The business's 50-day simple moving average is $6.12 and its two-hundred day simple moving average is $7.63. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.59 and a beta of 5.18.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $52.92 million for the quarter, compared to analyst estimates 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 last year, the company earned ($0.24) EPS. Sell-side analysts predict that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

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.