Applied Digital Co. (NASDAQ:APLD) Holdings Boosted by Invesco Ltd.

Invesco Ltd. grew its stake in shares of Applied Digital Co. (NASDAQ:APLD) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,456 shares of the company’s stock after purchasing an additional 15,531 shares during the quarter. Invesco Ltd.’s holdings in Applied Digital were worth $836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in APLD. Wilmington Savings Fund Society FSB increased its position 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 worth $31,000 after buying an additional 2,000 shares during the period. R Squared Ltd bought a new position in shares of Applied Digital during the fourth quarter worth about $36,000. US Bancorp DE acquired a new stake in shares of Applied Digital in the 4th quarter worth about $37,000. Jones Financial Companies Lllp bought a new stake in Applied Digital in the 4th quarter valued at about $39,000. Finally, Spire Wealth Management acquired a new position in Applied Digital during the 4th quarter valued at about $43,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on APLD shares. Compass Point began coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price target on the stock. Cantor Fitzgerald cut their target price on Applied Digital from $14.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research report on Wednesday, April 23rd. HC Wainwright lowered their price target on Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Northland Securities upped their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $10.67.

Applied Digital Trading Up 1.7 %

Shares of APLD stock opened at $5.30 on Friday. 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 stock has a 50-day simple moving average of $5.87 and a 200 day simple moving average of $7.58. Applied Digital Co. has a fifty-two week low of $2.98 and a fifty-two week high of $12.48. The stock has a market capitalization of $1.19 billion, a P/E ratio of -3.06 and a beta of 5.18.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. The business had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. During the same period in the prior year, the firm earned ($0.24) EPS. On average, sell-side analysts expect that Applied Digital Co. will post -0.96 earnings per share for the current fiscal year.

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.