Applied Digital Co. (NASDAQ:APLD) Shares Acquired by LPL Financial LLC

LPL Financial LLC increased its stake in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) by 58.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 180,902 shares of the company's stock after purchasing an additional 66,683 shares during the period. LPL Financial LLC owned approximately 0.08% of Applied Digital worth $1,382,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in APLD. FMR LLC grew its position in shares of Applied Digital by 99.1% during the third quarter. FMR LLC now owns 13,071 shares of the company's stock valued at $108,000 after purchasing an additional 6,507 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Applied Digital during the third quarter worth $762,000. HighTower Advisors LLC purchased a new stake in Applied Digital in the 3rd quarter worth about $99,000. State Street Corp lifted its stake in shares of Applied Digital by 14.0% during the 3rd quarter. State Street Corp now owns 2,337,267 shares of the company's stock worth $19,282,000 after acquiring an additional 286,852 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Applied Digital by 8.8% during the third quarter. Wellington Management Group LLP now owns 37,411 shares of the company's stock valued at $309,000 after purchasing an additional 3,040 shares during the period. Institutional investors own 65.67% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald decreased their price objective on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating for the company in a report on Tuesday. Compass Point began coverage on Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price target for the company. HC Wainwright cut their price target on Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research note on Tuesday. Needham & Company LLC dropped their target price on Applied Digital from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $10.67.

Applied Digital Trading Down 3.4 %

Applied Digital stock traded down $0.14 during trading on Friday, reaching $3.94. 36,300,379 shares of the company were exchanged, compared to its average volume of 28,302,324. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The stock's 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $7.78. The company has a market capitalization of $885.39 million, a P/E ratio of -2.28 and a beta of 5.18. Applied Digital Co. has a 52-week low of $2.36 and a 52-week high of $12.48.

Applied Digital (NASDAQ:APLD - Get Free Report) last issued its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share 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 business had revenue of $52.92 million during the quarter, compared to analysts' expectations of $62.91 million. During the same quarter in the previous year, the company posted ($0.24) earnings per share. On average, equities research analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal 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.