Alliancebernstein L.P. Purchases 96,238 Shares of Applied Digital Co. (NASDAQ:APLD)

Alliancebernstein L.P. grew its position in Applied Digital Co. (NASDAQ:APLD) by 102.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,348 shares of the company’s stock after purchasing an additional 96,238 shares during the quarter. Alliancebernstein L.P. owned approximately 0.09% of Applied Digital worth $1,454,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its holdings in Applied Digital by 100.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,000 shares of the company’s stock valued at $31,000 after buying an additional 2,000 shares during the period. R Squared Ltd bought a new position in shares of Applied Digital in the 4th quarter worth about $36,000. US Bancorp DE acquired a new position in shares of Applied Digital in the 4th quarter valued at about $37,000. Jones Financial Companies Lllp bought a new stake in shares of Applied Digital during the 4th quarter valued at about $39,000. Finally, Spire Wealth Management acquired a new stake in Applied Digital during the fourth quarter worth approximately $43,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $3.94 on Friday. The stock has a market cap of $878.24 million, a price-to-earnings ratio of -2.28 and a beta of 5.18. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. Applied Digital Co. has a fifty-two week low of $2.36 and a fifty-two week high of $12.48. The firm’s 50-day simple moving average is $6.86 and its 200 day simple moving average is $7.81.

Applied Digital (NASDAQ:APLD) last posted its earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The company had revenue of $52.92 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned ($0.24) EPS. As a group, research analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APLD. Northland Securities boosted 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. Cantor Fitzgerald dropped their target price 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. Compass Point assumed coverage on shares of 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 dropped their price objective on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Needham & Company LLC cut their price objective on shares of Applied Digital from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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.