Applied Digital Co. (NASDAQ:APLD) Shares Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC lifted its position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 10.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,147,422 shares of the company's stock after acquiring an additional 1,464,854 shares during the quarter. Applied Digital makes up about 1.7% of Hood River Capital Management LLC's investment portfolio, making the stock its 7th largest position. Hood River Capital Management LLC owned approximately 6.80% of Applied Digital worth $115,726,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB raised its position 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 valued at $31,000 after acquiring an additional 2,000 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Applied Digital during the fourth quarter worth $36,000. US Bancorp DE bought a new stake in Applied Digital in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp acquired a new position in Applied Digital in the fourth quarter valued at about $39,000. Finally, Spire Wealth Management bought a new position in Applied Digital during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on APLD. Northland Securities upped their price target on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. Compass Point initiated coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a "buy" rating and a $10.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $10.00 price target on shares of Applied Digital in a research report on Wednesday. Cantor Fitzgerald decreased their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, 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 research note on Tuesday, April 15th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $10.67.

Applied Digital Stock Up 3.5 %

Shares of NASDAQ:APLD traded up $0.16 during midday trading on Friday, reaching $4.70. 39,493,972 shares of the company were exchanged, compared to its average volume of 28,794,992. The firm has a market cap of $1.06 billion, a PE ratio of -2.72 and a beta of 5.18. Applied Digital Co. has a fifty-two week low of $2.63 and a fifty-two week high of $12.48. The stock has a fifty day simple moving average of $6.44 and a two-hundred day simple moving average of $7.68. 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 (NASDAQ:APLD - Get Free Report) last released 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 firm had revenue of $52.92 million during the quarter, compared to analyst estimates 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 prior year, the business earned ($0.24) EPS. As a group, sell-side analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current 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.