Applied Digital Corporation $APLD is TFR Capital LLC.'s 5th Largest Position

Key Points

• TFR Capital LLC. increased its stake in Applied Digital by 425.3% in the first quarter, making APLD its 5th largest holding. The firm now owns 372,960 shares worth about $9.5 million.
• Other institutional investors also boosted or initiated positions in Applied Digital, and institutions now own 65.67% of the company’s stock. This suggests continued strong interest from hedge funds and asset managers.
• Applied Digital shares were trading at $28.84, with the stock showing high volatility and a beta of 5.67. Analysts remain mostly constructive, with a Moderate Buy consensus and an average price target of $70.56.

TFR Capital LLC. grew its stake in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 425.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 372,960 shares of the company's stock after purchasing an additional 301,954 shares during the period. Applied Digital comprises approximately 2.9% of TFR Capital LLC.'s investment portfolio, making the stock its 5th largest holding. TFR Capital LLC. owned 0.13% of Applied Digital worth $9,497,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in APLD. Principal Financial Group Inc. increased its holdings in shares of Applied Digital by 18.3% during the 1st quarter. Principal Financial Group Inc. now owns 15,521 shares of the company's stock valued at $368,000 after purchasing an additional 2,400 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in Applied Digital by 68.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 48,963 shares of the company's stock worth $1,162,000 after buying an additional 19,980 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Applied Digital during the first quarter valued at $53,000. Hsbc Holdings PLC grew its position in Applied Digital by 6.2% during the first quarter. Hsbc Holdings PLC now owns 1,240,239 shares of the company's stock valued at $28,377,000 after buying an additional 72,460 shares during the period. Finally, Ascentis Independent Advisors increased its holdings in Applied Digital by 121.7% in the first quarter. Ascentis Independent Advisors now owns 20,154 shares of the company's stock valued at $478,000 after buying an additional 11,065 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company's stock.

Applied Digital Stock Performance

NASDAQ:APLD opened at $28.84 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.38 and a current ratio of 2.38. The company has a fifty day moving average of $41.50 and a two-hundred day moving average of $34.40. The stock has a market capitalization of $8.24 billion, a PE ratio of -38.97 and a beta of 5.67. Applied Digital Corporation has a fifty-two week low of $9.23 and a fifty-two week high of $50.72.

Insider Activity

In other news, Director Richard N. Nottenburg sold 12,500 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $34.59, for a total transaction of $432,375.00. Following the completion of the sale, the director owned 208,378 shares of the company's stock, valued at $7,207,795.02. The trade was a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas S. Miller sold 10,000 shares of the firm's stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the transaction, the director directly owned 184,859 shares in the company, valued at $6,466,367.82. This represents a 5.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 35,000 shares of company stock worth $1,182,175. Company insiders own 9.50% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on APLD shares. B. Riley Financial reiterated a "buy" rating and issued a $66.00 price objective (up from $53.00) on shares of Applied Digital in a research report on Wednesday, May 27th. Lucid Cap Mkts upgraded Applied Digital to a "strong-buy" rating in a research report on Wednesday, May 27th. Compass Point restated a "buy" rating and issued a $70.00 price target on shares of Applied Digital in a research note on Friday, May 22nd. Northland Securities set a $82.00 price target on Applied Digital and gave the stock an "outperform" rating in a report on Wednesday, June 17th. Finally, Roth Capital reiterated a "buy" rating and set a $65.00 price target on shares of Applied Digital in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Applied Digital has a consensus rating of "Moderate Buy" and a consensus price target of $70.56.

About Applied Digital

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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