Marshall Wace LLP Takes Position in Applied Digital Co. (NASDAQ:APLD)

Marshall Wace LLP acquired a new position in shares of Applied Digital Co. (NASDAQ:APLD - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,301,365 shares of the company's stock, valued at approximately $9,942,000. Marshall Wace LLP owned 0.58% of Applied Digital as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of Applied Digital by 143.1% during the fourth quarter. NewEdge Advisors LLC now owns 9,810 shares of the company's stock valued at $75,000 after purchasing an additional 5,775 shares in the last quarter. Jump Financial LLC bought a new stake in Applied Digital during the 4th quarter valued at $1,155,000. Summit Investment Advisors Inc. boosted its position in Applied Digital by 68.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 20,058 shares of the company's stock valued at $153,000 after acquiring an additional 8,146 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Applied Digital by 16.9% in the 4th quarter. Legal & General Group Plc now owns 167,660 shares of the company's stock valued at $1,281,000 after acquiring an additional 24,195 shares during the period. Finally, Invesco Ltd. raised its position in shares of Applied Digital by 16.5% in the 4th quarter. Invesco Ltd. now owns 109,456 shares of the company's stock worth $836,000 after acquiring an additional 15,531 shares in the last quarter. 65.67% of the stock is owned by institutional investors.

Applied Digital Stock Performance

Shares of APLD stock traded up $0.05 during mid-day trading on Wednesday, reaching $4.08. The stock had a trading volume of 30,556,187 shares, compared to its average volume of 28,533,932. Applied Digital Co. has a 1-year low of $2.63 and a 1-year high of $12.48. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The firm has a market cap of $916.85 million, a price-to-earnings ratio of -2.36 and a beta of 5.18. The business's fifty day moving average is $6.63 and its 200-day moving average is $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 for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million for the quarter, compared to analysts' expectations of $62.91 million. During the same quarter in the prior year, the business posted ($0.24) earnings per share. On average, research analysts forecast that Applied Digital Co. will post -0.96 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Northland Securities lifted their target price on Applied Digital from $12.00 to $20.00 and gave the company an "outperform" rating in a research note on Tuesday, February 4th. HC Wainwright reduced their price objective on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Compass Point assumed 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. Cantor Fitzgerald reduced their price target on 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, Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Wednesday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $10.67.

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.