Harvest Investment Services LLC Has $734,000 Position in Applied Digital Co. (NASDAQ:APLD)

Harvest Investment Services LLC boosted its holdings in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 284.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,055 shares of the company's stock after acquiring an additional 71,055 shares during the quarter. Harvest Investment Services LLC's holdings in Applied Digital were worth $734,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Applied Digital by 39.1% in 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 during the last quarter. Van ECK Associates Corp lifted its position in shares of Applied Digital by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company's stock worth $33,649,000 after buying an additional 2,344,572 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Applied Digital during the 4th quarter worth about $12,843,000. Geode Capital Management LLC increased its holdings in shares of Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock valued at $36,117,000 after acquiring an additional 1,665,335 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Applied Digital in the 4th quarter valued at approximately $9,942,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Price Performance

Shares of APLD stock opened at $4.03 on Wednesday. The company has a market capitalization of $905.61 million, a P/E ratio of -2.33 and a beta of 5.18. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. Applied Digital Co. has a 12 month low of $2.63 and a 12 month high of $12.48. The stock has a 50 day moving average of $6.63 and a two-hundred day moving average of $7.73.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings results 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). The business 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 last year, the firm earned ($0.24) EPS. As a group, equities analysts expect that Applied Digital Co. will post -0.96 EPS for the current year.

Analyst Upgrades and Downgrades

APLD has been the topic of several analyst reports. Compass Point initiated coverage on Applied Digital in a report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price target on the stock. 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. Northland Securities upped their price target on shares of Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Needham & Company LLC dropped their price objective on Applied Digital from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, Cantor Fitzgerald decreased 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. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital has an average rating of "Buy" and an average price target of $10.67.

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.

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