63,500 Applied Digital Corporation $APLD Shares Acquired by Royal Fund Management LLC

Key Points

• Royal Fund Management increased its Applied Digital stake by 184.3% in the third quarter, acquiring 63,500 shares and ending with 97,950 shares worth approximately $2.39 million. Institutional investors collectively own 65.67% of the company.
• Insider activity was mixed: Director Richard Nottenburg sold 31,250 shares for $682,500, while CEO Wes Cummins purchased 55,803 shares for roughly $1.01 million. Corporate insiders own 9.5% of Applied Digital.
• Applied Digital reported sharply higher quarterly revenue of $300.39 million and beat EPS expectations, but remains unprofitable and highly leveraged. Shares opened at $19.09, well below the 52-week high of $50.72, while analysts maintain a “Moderate Buy” consensus with a $59.75 target.

Royal Fund Management LLC boosted its position in shares of Applied Digital Corporation (NASDAQ:APLD - Free Report) by 184.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,950 shares of the company's stock after acquiring an additional 63,500 shares during the period. Royal Fund Management LLC's holdings in Applied Digital were worth $2,387,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Applied Digital during the 2nd quarter worth approximately $37,000. Bartlett & CO. Wealth Management LLC increased its position in shares of Applied Digital by 244.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 1,205 shares of the company's stock valued at $29,000 after purchasing an additional 855 shares during the period. Ancora Advisors LLC acquired a new position in shares of Applied Digital in the second quarter valued at $56,000. Creative Financial Designs Inc. ADV raised its stake in shares of Applied Digital by 691.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 1,536 shares of the company's stock valued at $57,000 after purchasing an additional 1,342 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Applied Digital by 28.5% in the second quarter. GAMMA Investing LLC now owns 2,092 shares of the company's stock valued at $78,000 after purchasing an additional 464 shares in the last quarter. Institutional investors own 65.67% of the company's stock.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 31,250 shares of the business's stock in a transaction dated Tuesday, October 13th. The shares were sold at an average price of $21.84, for a total value of $682,500.00. Following the transaction, the director directly owned 102,128 shares in the company, valued at $2,230,475.52. The trade was a 23.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wes Cummins purchased 55,803 shares of Applied Digital stock in a transaction on Friday, October 16th. The stock was purchased at an average price of $18.04 per share, for a total transaction of $1,006,686.12. Following the completion of the transaction, the chief executive officer owned 5,874,453 shares of the company's stock, valued at approximately $105,975,132.12. This represents a 0.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 9.50% of the stock is currently owned by corporate insiders.

Applied Digital News Summary

Here are the key news stories impacting Applied Digital this week:

• Positive Sentiment: Applied Digital agreed with Soluna Holdings to develop a 50-megawatt AI and high-performance-computing data center at the Dorothy 3 site in Texas. Applied will own 51% of the project, giving it majority control of a new potential source of data-center capacity and revenue. Soluna partnership announcement
• Positive Sentiment: The facility is expected to use power from a nearby wind farm, reinforcing Applied Digital’s positioning in energy-efficient and renewable-powered AI infrastructure. Applied’s majority-owned neocloud business, ChronoScale, also signed a non-binding letter of intent to lease the site, suggesting a possible future customer. Texas AI data center details
• Positive Sentiment: Roth/MKM reinstated coverage with a Buy rating and a $35 price target, implying substantial upside from recently depressed levels. The call adds credibility to the bull case that power scarcity and AI demand can support Applied Digital’s growth. Roth/MKM rating
• Neutral Sentiment: Rosenblatt maintained a Buy rating on Soluna but reduced its target after concluding the Dorothy 3 economics were less favorable than previously modeled. The project may require only about $62 million from Soluna and could avoid new share issuance, but the final financial impact for Applied remains dependent on construction, leasing, and funding terms. Rosenblatt Soluna target revision
• Negative Sentiment: Applied Digital remains unprofitable, highly leveraged, and exposed to substantial capital requirements. The non-binding ChronoScale lease does not yet guarantee utilization or revenue, while analysts continue to flag execution and financing risks in the company’s expansion strategy. Applied Digital stock analysis

Applied Digital Price Performance

Shares of NASDAQ:APLD opened at $19.09 on Friday. The company has a current ratio of 2.56, a quick ratio of 2.56 and a debt-to-equity ratio of 3.90. The business's fifty day moving average price is $25.28 and its two-hundred day moving average price is $32.22. Applied Digital Corporation has a fifty-two week low of $17.65 and a fifty-two week high of $50.72.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings data on Wednesday, October 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.29. Applied Digital had a negative return on equity of 27.21% and a negative net margin of 51.28%. The firm had revenue of $300.39 million during the quarter, compared to analyst estimates of $116.29 million. During the same period in the prior year, the company posted ($0.03) earnings per share. The business's revenue for the quarter was up 367.8% compared to the same quarter last year. Sell-side analysts anticipate that Applied Digital Corporation will post -2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

APLD has been the topic of several analyst reports. Needham & Company LLC lowered their price target on shares of Applied Digital from $83.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, October 8th. Zacks Research downgraded shares of Applied Digital from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 26th. Wall Street Zen lowered shares of Applied Digital from a "sell" rating to a "strong sell" rating in a research report on Sunday, August 30th. UBS Group reiterated a "buy" rating on shares of Applied Digital in a research report on Thursday, October 8th. Finally, Citigroup reissued a "market outperform" rating on shares of Applied Digital in a research note on Thursday, October 8th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $59.75.

About Applied Digital

Applied Digital Corporation NASDAQ: APLD develops and operates digital infrastructure designed to support high-performance computing and artificial intelligence applications. The company provides data-center capacity, hosting services and related infrastructure for customers that require substantial computing power and energy resources.

Its business includes high-performance computing data centers and cloud services intended to support artificial intelligence, machine learning, cryptocurrency mining and other compute-intensive workloads.

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