Yaupon Capital Management LP Makes New Investment in Applied Digital Co. (NASDAQ:APLD)

Yaupon Capital Management LP bought a new stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 562,906 shares of the company's stock, valued at approximately $4,301,000. Yaupon Capital Management LP owned 0.25% of Applied Digital at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of APLD. Vontobel Holding Ltd. grew 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 buying an additional 1,500 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Applied Digital by 16.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company's stock worth $90,000 after acquiring an additional 1,692 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake 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 worth $31,000 after purchasing an additional 2,000 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Applied Digital by 113.3% during the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock valued at $50,000 after purchasing an additional 3,473 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Applied Digital by 34.7% during the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company's stock valued at $123,000 after purchasing an additional 4,162 shares in the last quarter. Institutional investors own 65.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on APLD shares. Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $10.00 price objective on shares of Applied Digital in a report on Wednesday. HC Wainwright dropped their target price on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Cantor Fitzgerald dropped their target price on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Compass Point assumed coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital currently has an average rating of "Buy" and a consensus target price of $10.67.

Applied Digital Trading Up 3.5 %

NASDAQ:APLD traded up $0.16 on Friday, hitting $4.70. 39,493,972 shares of the stock were exchanged, compared to its average volume of 28,794,992. 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 52 week low of $2.63 and a 52 week high of $12.48. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.72 and a beta of 5.18. The company's 50-day moving average price is $6.34 and its 200 day moving average price is $7.66.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its 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 firm had revenue of $52.92 million during the quarter, compared to the consensus estimate of $62.91 million. Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. During the same period in the previous year, the company posted ($0.24) EPS. On average, equities research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

About Applied Digital

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.