Captrust Financial Advisors Makes New Investment in Applied Digital Co. (NASDAQ:APLD)

Captrust Financial Advisors purchased a new position in shares of Applied Digital Co. (NASDAQ:APLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,797 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB lifted its stake in 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 purchasing an additional 2,000 shares during the period. R Squared Ltd bought a new position in Applied Digital during the fourth quarter worth about $36,000. US Bancorp DE bought a new position in Applied Digital during the fourth quarter worth about $37,000. Jones Financial Companies Lllp bought a new position in Applied Digital during the fourth quarter worth about $39,000. Finally, Spire Wealth Management bought a new position in Applied Digital during the fourth quarter worth about $43,000. Institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

APLD stock opened at $6.78 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The company has a 50 day moving average price of $5.55 and a 200 day moving average price of $7.39. Applied Digital Co. has a fifty-two week low of $3.01 and a fifty-two week high of $12.48. The stock has a market capitalization of $1.52 billion, a PE ratio of -3.92 and a beta of 5.98.

Applied Digital (NASDAQ:APLD) last released its earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $62.91 million. During the same period in the prior year, the firm posted ($0.24) EPS. Analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.

Analysts Set New Price Targets

APLD has been the subject of a number of research analyst reports. HC Wainwright cut their target price on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Cantor Fitzgerald cut their target price on shares of Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Northland Securities lifted their target price 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. Finally, Compass Point initiated coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.