Corton Capital Inc. Acquires Shares of 18,674 Applied Digital Co. (NASDAQ:APLD)

Corton Capital Inc. bought a new position in shares of Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,674 shares of the company’s stock, valued at approximately $143,000.

Several other institutional investors and hedge funds have also made changes to their positions in APLD. Wilmington Savings Fund Society FSB lifted its holdings in Applied Digital by 100.0% in the 4th 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 in the last quarter. R Squared Ltd acquired a new position in shares of Applied Digital in the fourth quarter worth about $36,000. US Bancorp DE purchased a new position in Applied Digital in the fourth quarter valued at about $37,000. Jones Financial Companies Lllp acquired a new stake in Applied Digital during the 4th quarter valued at approximately $39,000. Finally, Spire Wealth Management purchased a new stake in Applied Digital during the 4th quarter worth approximately $43,000. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Stock Up 4.8 %

NASDAQ:APLD opened at $5.50 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 1.22. The stock has a 50 day moving average of $5.68 and a 200-day moving average of $7.50. The firm has a market capitalization of $1.24 billion, a PE ratio of -3.18 and a beta of 5.98. Applied Digital Co. has a 52 week low of $3.01 and a 52 week high of $12.48.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data 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 company had revenue of $52.92 million for the quarter, compared to the consensus estimate of $62.91 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share. Analysts predict that Applied Digital Co. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

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