Janus Henderson Group PLC lifted its stake in shares of Applied Digital Corporation (NASDAQ:APLD – Free Report) by 318.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 785,152 shares of the company’s stock after purchasing an additional 597,548 shares during the period. Janus Henderson Group PLC’s holdings in Applied Digital were worth $18,638,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in APLD. Amundi raised its holdings in Applied Digital by 61.8% in the first quarter. Amundi now owns 31,327 shares of the company’s stock valued at $744,000 after acquiring an additional 11,968 shares in the last quarter. Situational Awareness LP boosted its position in shares of Applied Digital by 18.9% during the 1st quarter. Situational Awareness LP now owns 13,478,438 shares of the company’s stock worth $319,978,000 after acquiring an additional 2,139,378 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Applied Digital by 22.3% in the 1st quarter. California State Teachers Retirement System now owns 291,305 shares of the company’s stock valued at $6,916,000 after acquiring an additional 53,208 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Applied Digital by 6.3% in the first quarter. The Manufacturers Life Insurance Company now owns 123,419 shares of the company’s stock valued at $2,930,000 after purchasing an additional 7,357 shares during the last quarter. Finally, Quantinno Capital Management LP increased its stake in Applied Digital by 30.3% in the first quarter. Quantinno Capital Management LP now owns 13,383 shares of the company’s stock valued at $318,000 after purchasing an additional 3,111 shares during the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Citigroup restated a “market outperform” rating on shares of Applied Digital in a report on Monday. Lucid Cap Mkts raised shares of Applied Digital to a “strong-buy” rating in a research report on Wednesday, May 27th. Zacks Research raised Applied Digital from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Northland Securities set a $82.00 target price on Applied Digital and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Finally, Lake Street Capital raised their price target on Applied Digital from $70.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $68.05.
Applied Digital Stock Up 7.7%
APLD opened at $29.49 on Tuesday. The business has a 50 day moving average price of $36.92 and a two-hundred day moving average price of $34.26. The company has a quick ratio of 4.01, a current ratio of 4.01 and a debt-to-equity ratio of 2.88. The company has a market cap of $8.60 billion, a PE ratio of -33.13 and a beta of 5.75. Applied Digital Corporation has a 52 week low of $12.35 and a 52 week high of $50.72.
Applied Digital (NASDAQ:APLD – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.30). Applied Digital had a negative return on equity of 16.42% and a negative net margin of 37.78%.The company had revenue of $240.35 million for the quarter, compared to analysts’ expectations of $96.85 million. During the same quarter last year, the company earned ($0.24) EPS. Applied Digital’s revenue for the quarter was up 406.3% compared to the same quarter last year. As a group, research analysts anticipate that Applied Digital Corporation will post -0.88 EPS for the current year.
Applied Digital Profile
Applied Digital (NASDAQ: APLD) is a technology company specializing in the development and operation of large-scale digital infrastructure and sustainable Bitcoin mining solutions. Through its integrated platform, the company designs, builds and manages turnkey data center facilities while also providing comprehensive hosting services for cloud, colocation and enterprise computing needs. Applied Digital’s modular approach to facility design enables rapid deployment of capacity and streamlined integration of power, cooling and network connectivity.
In addition to its data center business, Applied Digital operates a network of Bitcoin mining sites that leverage vertically integrated capabilities, including hardware procurement, mining farm engineering, energy management and real-time performance monitoring.
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