Two Seas Capital LP Acquires Shares of 662,587 Applied Digital Co. (NASDAQ:APLD)

by · The Markets Daily

Two Seas Capital LP acquired a new stake in Applied Digital Co. (NASDAQ:APLD – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 662,587 shares of the company’s stock, valued at approximately $5,062,000. Applied Digital comprises approximately 0.4% of Two Seas Capital LP’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. HighTower Advisors LLC purchased a new stake in Applied Digital during the 3rd quarter valued at $99,000. Barclays PLC increased its position in Applied Digital by 736.8% during the third quarter. Barclays PLC now owns 486,577 shares of the company’s stock valued at $4,014,000 after acquiring an additional 428,428 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Applied Digital by 48.7% in the third quarter. Geode Capital Management LLC now owns 3,061,160 shares of the company’s stock valued at $25,258,000 after acquiring an additional 1,002,862 shares during the period. Virtu Financial LLC bought a new stake in shares of Applied Digital in the 3rd quarter worth about $2,030,000. Finally, Tidal Investments LLC purchased a new position in shares of Applied Digital during the 3rd quarter worth about $95,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on APLD. Northland Securities increased their price objective on shares of 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 reduced their price target on Applied Digital from $14.00 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Applied Digital in a report on Wednesday. HC Wainwright reduced their target price on Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Compass Point initiated coverage on shares of Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $10.67.

Read Our Latest Stock Analysis on Applied Digital

Applied Digital Stock Up 11.3 %

NASDAQ:APLD opened at $4.54 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. Applied Digital Co. has a 1-year low of $2.63 and a 1-year high of $12.48. The company has a 50-day moving average of $6.44 and a 200 day moving average of $7.68. The firm has a market cap of $1.02 billion, a PE ratio of -2.62 and a beta of 5.18.

Applied Digital (NASDAQ:APLD – Get Free Report) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $52.92 million for 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 posted ($0.24) earnings per share. As a group, research analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

About Applied Digital

(Free Report)

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.

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