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

Invesco Ltd. grew its position in Applied Digital Co. (NASDAQ:APLD) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 109,456 shares of the company’s stock after purchasing an additional 15,531 shares during the period. Invesco Ltd.’s holdings in Applied Digital were worth $836,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in APLD. Vanguard Group Inc. lifted its position in shares of Applied Digital by 39.1% in the 4th quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company’s stock valued at $97,487,000 after acquiring an additional 3,587,619 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Applied Digital by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 4,726,495 shares of the company’s stock valued at $36,117,000 after purchasing an additional 1,665,335 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Applied Digital by 113.8% in the fourth quarter. Van ECK Associates Corp now owns 4,404,313 shares of the company’s stock valued at $33,649,000 after purchasing an additional 2,344,572 shares in the last quarter. Pertento Partners LLP boosted its position in shares of Applied Digital by 49.0% in the fourth quarter. Pertento Partners LLP now owns 2,528,717 shares of the company’s stock worth $19,319,000 after buying an additional 831,705 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $13,740,000 after buying an additional 899,138 shares in the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Stock Up 1.7 %

APLD stock opened at $5.30 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of -3.06 and a beta of 5.18. Applied Digital Co. has a 1 year low of $2.98 and a 1 year high of $12.48. The company has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $7.58. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22.

Applied Digital (NASDAQ:APLD) last announced 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 company had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative return on equity of 117.67% and a negative net margin of 127.86%. During the same period in the prior year, the firm earned ($0.24) EPS. Sell-side analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Applied Digital 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.