Two Seas Capital LP Invests $5.06 Million in Applied Digital Co. (NASDAQ:APLD)

Two Seas Capital LP acquired a new stake in Applied Digital Co. (NASDAQ:APLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 662,587 shares of the company's stock, valued at approximately $5,062,000. Applied Digital accounts for about 0.4% of Two Seas Capital LP's holdings, making the stock its 22nd biggest holding. Two Seas Capital LP owned 0.30% of Applied Digital as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC increased its position in Applied Digital by 10.7% in the 4th quarter. Hood River Capital Management LLC now owns 15,147,422 shares of the company's stock valued at $115,726,000 after acquiring an additional 1,464,854 shares during the period. Vanguard Group Inc. increased its holdings in Applied Digital by 39.1% in the fourth 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 period. Geode Capital Management LLC raised its position in Applied Digital by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company's stock worth $36,117,000 after purchasing an additional 1,665,335 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Applied Digital by 113.8% during the 4th 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 period. Finally, Pertento Partners LLP grew its position in shares of Applied Digital by 49.0% in the 4th quarter. Pertento Partners LLP now owns 2,528,717 shares of the company's stock valued at $19,319,000 after buying an additional 831,705 shares during the last quarter. Institutional investors own 65.67% of the company's stock.

Applied Digital Stock Up 3.5 %

NASDAQ:APLD traded up $0.16 during trading hours on Friday, reaching $4.70. The company had a trading volume of 39,493,972 shares, compared to its average volume of 28,794,992. The business's 50-day simple moving average is $6.34 and its two-hundred day simple moving average is $7.66. Applied Digital Co. has a twelve month low of $2.63 and a twelve month high of $12.48. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -2.72 and a beta of 5.18. 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 issued its earnings results on Monday, April 14th. The company reported ($0.16) EPS 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 firm had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the prior year, the business earned ($0.24) earnings per share. On average, equities analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

APLD has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Wednesday. HC Wainwright dropped their price target on shares of Applied Digital from $12.00 to $7.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Compass Point initiated coverage on shares of Applied Digital in a research report on Tuesday, January 28th. They set a "buy" rating and a $10.00 price objective for the company. Northland Securities boosted their target price 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. Finally, Cantor Fitzgerald cut their price target on shares of Applied Digital from $14.00 to $7.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital currently has an average rating of "Buy" and a consensus price target of $10.67.

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.