Applied Digital Co. (NASDAQ:APLD) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 26.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 356,003 shares of the company’s stock after selling 130,574 shares during the period. Barclays PLC owned 0.16% of Applied Digital worth $2,720,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock valued at $97,487,000 after buying an additional 3,587,619 shares in the last quarter. Geode Capital Management LLC grew its stake in Applied Digital by 54.4% in the fourth 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 in the last quarter. Van ECK Associates Corp increased its holdings in shares of Applied Digital by 113.8% in the 4th quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock valued at $33,649,000 after acquiring an additional 2,344,572 shares during the last quarter. Pertento Partners LLP increased its stake in Applied Digital by 49.0% during the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company’s stock valued at $19,319,000 after purchasing an additional 831,705 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Applied Digital by 100.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,798,431 shares of the company’s stock worth $13,740,000 after acquiring an additional 899,138 shares during the period. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Stock Down 4.9 %

APLD stock opened at $4.48 on Wednesday. Applied Digital Co. has a twelve month low of $2.63 and a twelve month high of $12.48. The company has a market cap of $1.01 billion, a price-to-earnings ratio of -2.59 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. The business has a 50 day moving average price of $6.12 and a two-hundred day moving average price of $7.63.

Applied Digital (NASDAQ:APLD) last posted its quarterly 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 business 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 last year, the company posted ($0.24) EPS. Analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on APLD. Northland Securities lifted their price objective on shares of 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 decreased their price target on Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. HC Wainwright cut their target price on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Compass Point assumed coverage on shares of Applied Digital in a report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Applied Digital in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.