Woodmont Investment Counsel LLC Buys 10,149 Shares of Applied Digital Co. (NASDAQ:APLD)

Woodmont Investment Counsel LLC grew its stake in Applied Digital Co. (NASDAQ:APLD) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,319 shares of the company’s stock after purchasing an additional 10,149 shares during the quarter. Woodmont Investment Counsel LLC owned approximately 0.20% of Applied Digital worth $1,071,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in Applied Digital by 427.2% during the fourth quarter. Capital Research Global Investors now owns 7,337,288 shares of the company’s stock worth $49,453,000 after acquiring an additional 5,945,559 shares during the period. Oasis Management Co Ltd. increased its position in Applied Digital by 23.6% in the fourth quarter. Oasis Management Co Ltd. now owns 4,928,129 shares of the company’s stock worth $33,216,000 after buying an additional 940,075 shares during the last quarter. Equitec Proprietary Markets LLC increased its position in Applied Digital by 415.4% in the fourth quarter. Equitec Proprietary Markets LLC now owns 4,168,657 shares of the company’s stock worth $28,097,000 after buying an additional 3,359,845 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Applied Digital by 40.6% in the third quarter. Vanguard Group Inc. now owns 3,335,542 shares of the company’s stock valued at $20,814,000 after purchasing an additional 963,390 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Applied Digital by 57.9% in the fourth quarter. Van ECK Associates Corp now owns 1,263,034 shares of the company’s stock valued at $8,513,000 after purchasing an additional 463,172 shares in the last quarter. Institutional investors own 65.67% of the company’s stock.

Analysts Set New Price Targets

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

Applied Digital Stock Performance

Shares of NASDAQ:APLD opened at $6.34 on Wednesday. Applied Digital Co. has a 1 year low of $2.36 and a 1 year high of $11.07. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50-day moving average is $4.34 and its 200 day moving average is $4.71.

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

Applied Digital 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.