Applied Digital Co. (NASDAQ:APLD) Holdings Reduced by Voloridge Investment Management LLC

Voloridge Investment Management LLC cut its stake in Applied Digital Co. (NASDAQ:APLD) by 81.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,195 shares of the company’s stock after selling 436,173 shares during the period. Voloridge Investment Management LLC’s holdings in Applied Digital were worth $765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in APLD. Barclays PLC lifted its stake 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 purchasing an additional 428,428 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Applied Digital by 16.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,774 shares of the company’s stock worth $90,000 after purchasing an additional 1,692 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Applied Digital during the 4th quarter worth $104,000. KBC Group NV acquired a new position in shares of Applied Digital during the 4th quarter worth $55,000. Finally, R Squared Ltd acquired a new position in shares of Applied Digital during the 4th quarter worth $36,000. 65.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APLD shares. HC Wainwright lowered their target price on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Applied Digital in a report on Wednesday, April 23rd. JMP Securities initiated coverage on shares of Applied Digital in a report on Thursday, May 22nd. They issued a “market outperform” rating and a $12.00 price target for the company. Citizens Jmp raised shares of Applied Digital to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Thursday, May 22nd. Finally, Northland Securities raised their price objective on shares of Applied Digital from $12.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $10.91.

Insiders Place Their Bets

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total transaction of $169,484.00. Following the transaction, the director now owns 83,613 shares in the company, valued at approximately $585,291. This represents a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.81% of the company’s stock.

Applied Digital Stock Performance

NASDAQ APLD opened at $7.04 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 firm’s fifty day moving average price is $5.56 and its two-hundred day moving average price is $7.40. Applied Digital Co. has a 1 year low of $3.01 and a 1 year high of $12.48. The firm has a market capitalization of $1.58 billion, a P/E ratio of -4.07 and a beta of 5.98.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings data 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 company had revenue of $52.92 million during 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 period in the previous year, the company earned ($0.24) earnings per share. As a group, research analysts anticipate that Applied Digital Co. will post -0.96 EPS for the current year.

About Applied Digital

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.