Applied Digital Co. (NASDAQ:APLD) Stock Position Lessened by Main Management ETF Advisors LLC

Main Management ETF Advisors LLC trimmed its holdings in shares of Applied Digital Co. (NASDAQ:APLD) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 175,152 shares of the company’s stock after selling 15,744 shares during the period. Main Management ETF Advisors LLC’s holdings in Applied Digital were worth $1,338,000 at the end of the most recent reporting period.

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

Applied Digital Stock Performance

APLD opened at $5.61 on Wednesday. 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 firm has a market cap of $1.26 billion, a PE ratio of -3.24 and a beta of 5.98. The business has a fifty day simple moving average of $5.57 and a 200-day simple moving average of $7.43. Applied Digital Co. has a fifty-two week low of $3.01 and a fifty-two week high of $12.48.

Applied Digital (NASDAQ:APLD) last announced its earnings results on Monday, April 14th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The company had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. During the same period in the prior year, the company earned ($0.24) earnings per share. As a group, equities analysts predict that Applied Digital Co. will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on APLD. Cantor Fitzgerald dropped their target price 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 reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research note on Wednesday, April 23rd. Compass Point assumed coverage on Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright lowered their target price 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 boosted their price target 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. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price 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.