Marshall Wace LLP Invests $9.94 Million in Applied Digital Co. (NASDAQ:APLD)

Marshall Wace LLP bought a new position in Applied Digital Co. (NASDAQ:APLD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,301,365 shares of the company's stock, valued at approximately $9,942,000. Marshall Wace LLP owned 0.58% of Applied Digital at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB increased its stake in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock valued at $31,000 after purchasing an additional 2,000 shares in the last quarter. R Squared Ltd purchased a new position in Applied Digital during the fourth quarter valued at $36,000. US Bancorp DE purchased a new position in Applied Digital during the fourth quarter valued at $37,000. Jones Financial Companies Lllp purchased a new stake in shares of Applied Digital in the fourth quarter worth $39,000. Finally, Spire Wealth Management bought a new position in shares of Applied Digital during the fourth quarter valued at $43,000. 65.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APLD has been the topic of several recent analyst reports. HC Wainwright cut their price objective on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of Applied Digital in a report on Wednesday. Cantor Fitzgerald dropped 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. Northland Securities lifted their price objective on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Finally, Compass Point began coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a "buy" rating and a $10.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Applied Digital has a consensus rating of "Buy" and an average target price of $10.67.

Applied Digital Stock Performance

Shares of Applied Digital stock traded up $0.09 on Friday, hitting $4.63. 23,522,258 shares of the company's stock were exchanged, compared to its average volume of 28,556,135. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a market capitalization of $1.04 billion, a PE ratio of -2.68 and a beta of 5.18. Applied Digital Co. has a 1 year low of $2.63 and a 1 year high of $12.48. The company has a 50-day simple moving average of $6.44 and a 200-day simple moving average of $7.68.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company earned ($0.24) EPS. As a group, equities analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current year.

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.