Register Financial Advisors LLC Lowers Stock Position in Applied Digital Corporation $APLD

Register Financial Advisors LLC decreased its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 14.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.

Several other hedge funds have also modified their holdings of APLD. Atlantic Union Bankshares Corp purchased a new stake in shares of Applied Digital in the second quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Applied Digital in the second quarter valued at $26,000. Dagco Inc. purchased a new stake in shares of Applied Digital during the 3rd quarter worth $27,000. Evolution Wealth Management Inc. boosted its position in shares of Applied Digital by 101.8% during the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after purchasing an additional 807 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after purchasing an additional 3,542 shares in the last quarter. 65.67% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on APLD. B. Riley raised their price objective on shares of Applied Digital to $53.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Needham & Company LLC reiterated a “buy” rating and set a $41.00 price target on shares of Applied Digital in a research report on Thursday, January 8th. HC Wainwright boosted their price target on Applied Digital from $20.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 10th. Arete began coverage on Applied Digital in a report on Wednesday, January 7th. They issued a “buy” rating on the stock. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $45.00 price objective on shares of Applied Digital in a report on Tuesday, December 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $33.27.

Applied Digital Trading Down 5.2%

Applied Digital stock opened at $35.46 on Wednesday. The stock has a 50-day moving average price of $28.08 and a 200 day moving average price of $23.21. Applied Digital Corporation has a 52 week low of $3.31 and a 52 week high of $40.20. The stock has a market cap of $9.91 billion, a PE ratio of -65.67 and a beta of 6.89. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 1.79.

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

Insider Buying and Selling

In other Applied Digital news, Director Chuck Hastings sold 50,000 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $35.69, for a total transaction of $1,784,500.00. Following the transaction, the director owned 451,612 shares of the company’s stock, valued at $16,118,032.28. This represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mohammad Saidal Lavanw Mohmand sold 100,000 shares of Applied Digital stock in a transaction on Friday, October 24th. The shares were sold at an average price of $34.08, for a total value of $3,408,000.00. Following the completion of the sale, the chief financial officer directly owned 158,912 shares of the company’s stock, valued at approximately $5,415,720.96. This represents a 38.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 526,641 shares of company stock worth $18,606,039 in the last three months. 9.50% of the stock is currently owned by insiders.

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.