Shaolin Capital Management LLC Buys New Stake in Applied Digital Co. (NASDAQ:APLD)

Shaolin Capital Management LLC purchased a new stake in Applied Digital Co. (NASDAQ:APLD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 433,200 shares of the company’s stock, valued at approximately $3,310,000. Shaolin Capital Management LLC owned approximately 0.19% of Applied Digital at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vontobel Holding Ltd. lifted its stake in Applied Digital by 9.8% during the fourth quarter. Vontobel Holding Ltd. now owns 16,735 shares of the company’s stock worth $128,000 after purchasing an additional 1,500 shares during the last quarter. Nisa Investment Advisors LLC lifted its position 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 buying an additional 1,692 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings 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 valued at $31,000 after buying an additional 2,000 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Applied Digital by 113.3% in the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company’s stock valued at $50,000 after buying an additional 3,473 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of Applied Digital by 34.7% in the 4th quarter. HighTower Advisors LLC now owns 16,162 shares of the company’s stock valued at $123,000 after buying an additional 4,162 shares during the last quarter. 65.67% of the stock is owned by hedge funds and other institutional investors.

Applied Digital Stock Performance

Shares of APLD stock opened at $4.70 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. Applied Digital Co. has a 12-month low of $2.63 and a 12-month high of $12.48. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -2.72 and a beta of 5.18. The stock has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $7.66.

Applied Digital (NASDAQ:APLD) last posted its 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). Applied Digital had a negative net margin of 127.86% and a negative return on equity of 117.67%. The business had revenue of $52.92 million for the quarter, compared to analysts’ expectations of $62.91 million. During the same quarter last year, the business posted ($0.24) earnings per share. On average, equities analysts forecast that Applied Digital Co. will post -0.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. HC Wainwright reduced their price target on shares of Applied Digital from $12.00 to $7.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. 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 research report on Tuesday, February 4th. Compass Point assumed coverage on shares of Applied Digital in a report on Tuesday, January 28th. They issued a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Applied Digital in a research note on Wednesday. Finally, Cantor Fitzgerald dropped their price target on Applied Digital from $14.00 to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $10.67.

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.