Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Applied Digital Co. (NASDAQ:APLD - Free Report) by 236.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,891 shares of the company's stock after buying an additional 49,111 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Applied Digital were worth $534,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB increased its position in shares of Applied Digital by 100.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company's stock worth $31,000 after acquiring an additional 2,000 shares during the last quarter. R Squared Ltd acquired a new stake in Applied Digital during the 4th quarter valued at approximately $36,000. US Bancorp DE purchased a new stake in Applied Digital during the 4th quarter worth approximately $37,000. Jones Financial Companies Lllp acquired a new position in shares of Applied Digital in the 4th quarter valued at approximately $39,000. Finally, Spire Wealth Management acquired a new position in shares of Applied Digital in the 4th quarter valued at approximately $43,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.
Applied Digital Stock Performance
NASDAQ APLD traded down $0.74 during trading hours on Friday, reaching $4.92. The company's stock had a trading volume of 33,257,816 shares, compared to its average volume of 26,372,408. The stock has a market cap of $1.10 billion, a PE ratio of -2.84 and a beta of 5.18. The business has a 50-day simple moving average of $7.48 and a 200 day simple moving average of $7.98. Applied Digital Co. has a 52 week low of $2.36 and a 52 week 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.
Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Tuesday, January 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.08. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $63.87 million during the quarter, compared to analyst estimates of $62.41 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business's revenue for the quarter was up 51.3% compared to the same quarter last year. Equities research analysts predict that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages recently issued reports on APLD. Northland Securities lifted their price target on shares of Applied Digital from $12.00 to $20.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. HC Wainwright raised their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, January 15th. Needham & Company LLC restated a "buy" rating and issued a $11.00 target price on shares of Applied Digital in a research note on Monday, February 24th. Cantor Fitzgerald reduced their price target on shares of Applied Digital from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 15th. Finally, Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They issued a "buy" rating and a $10.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Digital has an average rating of "Buy" and an average price target of $12.11.
Check Out Our Latest Analysis on Applied Digital
Insider Transactions at Applied Digital
In other news, Director Richard N. Nottenburg sold 20,000 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $8.85, for a total transaction of $177,000.00. Following the completion of the transaction, the director now directly owns 342,923 shares in the company, valued at approximately $3,034,868.55. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.81% of the company's stock.
About Applied Digital
(
Free Report)
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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