Register Financial Advisors LLC Decreases Stake in Applied Digital Corporation $APLD

Register Financial Advisors LLC decreased its holdings in Applied Digital Corporation (NASDAQ:APLD) by 14.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 95,000 shares of the company’s stock after selling 16,000 shares during the period. Register Financial Advisors LLC’s holdings in Applied Digital were worth $2,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of APLD. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Applied Digital during the 3rd quarter valued at approximately $483,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Applied Digital in the 3rd quarter valued at approximately $397,000. Yorktown Management & Research Co Inc purchased a new position in shares of Applied Digital during the 3rd quarter valued at approximately $696,000. Compass Ion Advisors LLC grew its position in shares of Applied Digital by 9.9% during the third quarter. Compass Ion Advisors LLC now owns 11,434 shares of the company’s stock worth $262,000 after buying an additional 1,034 shares in the last quarter. Finally, Dagco Inc. bought a new stake in shares of Applied Digital in the third quarter worth $27,000. 65.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on APLD shares. HC Wainwright increased their price objective on shares of Applied Digital from $20.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 10th. Roth Capital upped their target price on shares of Applied Digital to $58.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Arete initiated coverage on shares of Applied Digital in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Freedom Capital raised Applied Digital to a “strong-buy” rating in a report on Tuesday, January 6th. Finally, B. Riley upped their price objective on Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $33.27.

Insiders Place Their Bets

In other Applied Digital news, CEO Wes Cummins sold 165,000 shares of the stock in a transaction on Friday, January 16th. The stock was sold at an average price of $36.42, for a total value of $6,009,300.00. Following the sale, the chief executive officer directly owned 4,176,329 shares of the company’s stock, valued at $152,101,902.18. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Chuck Hastings sold 25,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $34.27, for a total value of $856,750.00. Following the completion of the sale, the director owned 426,612 shares in the company, valued at $14,619,993.24. The trade was a 5.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 526,641 shares of company stock worth $18,606,039. 9.50% of the stock is currently owned by insiders.

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $35.46 on Wednesday. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $40.20. The firm has a 50-day simple moving average of $28.08 and a 200 day simple moving average of $23.21. The company has a market cap of $9.91 billion, a PE ratio of -65.67 and a beta of 6.89.

Applied Digital (NASDAQ:APLD) last issued its earnings results on Wednesday, January 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Applied Digital had a negative return on equity of 13.53% and a negative net margin of 43.49%.The business had revenue of $126.59 million during the quarter, compared to the consensus estimate of $82.22 million. During the same period in the prior year, the business earned ($0.06) EPS. The business’s revenue was up 250.1% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Digital Corporation will post -0.96 EPS for the current year.

Applied Digital Company 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.