Woodmont Investment Counsel LLC Raises Holdings in Applied Digital Co. (NASDAQ:APLD)

Woodmont Investment Counsel LLC grew its position in shares of Applied Digital Co. (NASDAQ:APLD) by 4.2% in the first quarter, HoldingsChannel reports. The firm owned 250,319 shares of the company’s stock after buying an additional 10,149 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Applied Digital were worth $1,071,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Oasis Management Co Ltd. grew its position in shares of Applied Digital by 23.6% during the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock valued at $33,216,000 after purchasing an additional 940,075 shares in the last quarter. Versor Investments LP bought a new position in shares of Applied Digital in the 4th quarter valued at about $121,000. Russell Investments Group Ltd. lifted its holdings in shares of Applied Digital by 154.0% in the 4th quarter. Russell Investments Group Ltd. now owns 265,929 shares of the company’s stock valued at $1,792,000 after acquiring an additional 161,250 shares during the last quarter. Jump Financial LLC bought a new position in shares of Applied Digital in the 4th quarter valued at about $107,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Applied Digital by 40.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company’s stock valued at $20,814,000 after acquiring an additional 963,390 shares during the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Applied Digital Stock Performance

Shares of NASDAQ APLD opened at $6.34 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.30 and a quick ratio of 0.30. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $11.07. The firm has a 50-day simple moving average of $4.34 and a two-hundred day simple moving average of $4.71.

Applied Digital (NASDAQ:APLD) last announced its quarterly earnings data on Thursday, April 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.40). The firm had revenue of $43.35 million during the quarter, compared to the consensus estimate of $50.36 million. Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. As a group, research analysts anticipate that Applied Digital Co. will post -1.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on APLD shares. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Applied Digital in a report on Wednesday, June 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price target on shares of Applied Digital in a report on Friday, June 14th. B. Riley increased their price target on shares of Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a report on Friday, June 28th. Lake Street Capital lowered their price target on shares of Applied Digital from $19.00 to $7.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, Roth Mkm raised their price objective on shares of Applied Digital from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $8.40.

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.