Sculptor Capital LP Takes $1.53 Million Position in Applied Digital Co. (NASDAQ:APLD)

Sculptor Capital LP purchased a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 200,000 shares of the company's stock, valued at approximately $1,528,000. Sculptor Capital LP owned approximately 0.09% of Applied Digital as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in shares of Applied Digital by 96.6% during the fourth quarter. Wells Fargo & Company MN now owns 119,963 shares of the company's stock valued at $917,000 after purchasing an additional 58,943 shares during the period. Vanguard Group Inc. grew its holdings 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 purchasing an additional 3,587,619 shares in the last quarter. Rhumbline Advisers increased its stake in Applied Digital by 68.7% during the 4th quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock worth $1,978,000 after buying an additional 105,428 shares during the period. Exchange Traded Concepts LLC lifted 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 buying an additional 273,666 shares in the last quarter. Finally, Barclays PLC boosted its position in Applied Digital by 736.8% in the 3rd quarter. Barclays PLC now owns 486,577 shares of the company's stock valued at $4,014,000 after buying an additional 428,428 shares during the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Applied Digital Trading Up 22.2%

NASDAQ:APLD opened at $6.83 on Friday. The company has a market cap of $1.53 billion, a PE ratio of -3.95 and a beta of 5.98. The business's 50 day moving average is $5.54 and its two-hundred day moving average is $7.39. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a 52 week low of $3.01 and a 52 week high of $12.48.

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 (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The firm had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter last year, the business earned ($0.24) earnings per share. On average, analysts predict that Applied Digital Co. will post -0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

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