MetLife Investment Management LLC Boosts Holdings in Applied Digital Co. (NASDAQ:APLD)

MetLife Investment Management LLC raised its holdings in Applied Digital Co. (NASDAQ:APLD) by 70.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 116,104 shares of the company’s stock after purchasing an additional 47,798 shares during the period. MetLife Investment Management LLC owned 0.05% of Applied Digital worth $887,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its stake 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 acquired a new position in shares of Applied Digital in the fourth quarter worth $36,000. US Bancorp DE purchased a new stake in shares of Applied Digital in the fourth quarter valued at $37,000. Jones Financial Companies Lllp acquired a new stake in shares of Applied Digital during the fourth quarter valued at $39,000. Finally, Spire Wealth Management purchased a new stake in Applied Digital during the 4th quarter worth about $43,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

APLD has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Applied Digital in a research note on Wednesday, April 23rd. HC Wainwright decreased 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 report on Tuesday, April 15th. 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 research note on Tuesday, April 15th. Compass Point initiated coverage on Applied Digital in a research report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Northland Securities increased their target price on 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, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $10.67.

Applied Digital Stock Performance

Applied Digital stock opened at $5.30 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 12 month low of $2.98 and a 12 month high of $12.48. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -3.06 and a beta of 5.18. The stock’s 50-day moving average is $5.87 and its 200-day moving average is $7.58.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. Equities analysts anticipate that Applied Digital Co. will post -0.96 earnings per share for the current year.

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.