Two Seas Capital LP Purchases Shares of 662,587 Applied Digital Co. (NASDAQ:APLD)

Two Seas Capital LP purchased a new stake in shares of Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 662,587 shares of the company’s stock, valued at approximately $5,062,000. Applied Digital makes up 0.4% of Two Seas Capital LP’s investment portfolio, making the stock its 21st biggest holding.

Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB increased its holdings in Applied Digital by 100.0% in the fourth 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 purchased a new stake in shares of Applied Digital during the 4th quarter valued at approximately $36,000. US Bancorp DE purchased a new stake in Applied Digital in the 4th quarter valued at about $37,000. Jones Financial Companies Lllp acquired a new position in Applied Digital during the fourth quarter worth $39,000. Finally, Spire Wealth Management purchased 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 hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price objective on shares of Applied Digital in a research report on Wednesday, April 23rd. 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 research note on Tuesday, April 15th. Compass Point started coverage on shares of Applied Digital in a report on Tuesday, January 28th. They set a “buy” rating and a $10.00 price target for the company. Northland Securities boosted their target price 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. Finally, Cantor Fitzgerald dropped their price objective on Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $10.67.

Applied Digital Stock Performance

NASDAQ:APLD opened at $6.73 on Wednesday. The firm has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $7.39. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.77 and a quick ratio of 0.77. The firm has a market cap of $1.51 billion, a PE ratio of -3.89 and a beta of 5.98. Applied Digital Co. has a 1-year low of $3.01 and a 1-year high of $12.48.

Applied Digital (NASDAQ:APLD) last announced 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). 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 analysts’ expectations of $62.91 million. During the same quarter in the previous year, the company earned ($0.24) earnings per share. On average, equities analysts expect that Applied Digital Co. will post -0.96 EPS 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.