Nomura Holdings Inc. Sells 51,225 Shares of Applied Digital Co. (NASDAQ:APLD)

Nomura Holdings Inc. trimmed its stake in Applied Digital Co. (NASDAQ:APLD) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 2,948,771 shares of the company’s stock after selling 51,225 shares during the quarter. Nomura Holdings Inc.’s holdings in Applied Digital were worth $22,529,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in APLD. Wilmington Savings Fund Society FSB raised its position in shares of 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 acquiring an additional 2,000 shares in the last quarter. R Squared Ltd bought a new position in shares of Applied Digital in the 4th quarter worth $36,000. US Bancorp DE bought a new position in shares of Applied Digital in the 4th quarter worth $37,000. Jones Financial Companies Lllp bought a new position in shares of Applied Digital in the 4th quarter worth $39,000. Finally, Spire Wealth Management bought a new position in shares of Applied Digital in the 4th quarter worth $43,000. 65.67% of the stock is owned by institutional investors.

Applied Digital Stock Up 5.6%

Applied Digital stock opened at $5.61 on Wednesday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.77 and a current ratio of 0.77. The business’s 50-day simple moving average is $5.57 and its two-hundred day simple moving average is $7.43. The company has a market cap of $1.26 billion, a PE ratio of -3.24 and a beta of 5.98. 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 posted its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The firm had revenue of $52.92 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted ($0.24) EPS. Equities analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on APLD shares. 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 research note on Tuesday, April 15th. HC Wainwright dropped 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. Compass Point started coverage on Applied Digital in a research note on Tuesday, January 28th. They set a “buy” rating and a $10.00 target price on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 target price on shares of Applied Digital in a research note on Wednesday, April 23rd. Finally, Northland Securities boosted their target price on Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.