Register Financial Advisors LLC Buys 52,700 Shares of Applied Digital Corporation (NASDAQ:APLD)

Register Financial Advisors LLC boosted its holdings in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,200 shares of the company's stock after purchasing an additional 52,700 shares during the quarter. Register Financial Advisors LLC owned about 0.11% of Applied Digital worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of APLD. US Bancorp DE acquired a new stake in Applied Digital in the 4th quarter valued at $37,000. Jones Financial Companies Lllp acquired a new stake in Applied Digital in the 4th quarter valued at $39,000. Amalgamated Bank grew its position in Applied Digital by 113.3% in the 4th quarter. Amalgamated Bank now owns 6,538 shares of the company's stock valued at $50,000 after purchasing an additional 3,473 shares during the period. Lbmc Investment Advisors LLC bought a new position in Applied Digital during the 1st quarter valued at $67,000. Finally, Mayfair Advisory Group LLC bought a new position in Applied Digital during the 1st quarter valued at $68,000. Institutional investors and hedge funds own 65.67% of the company's stock.

Insider Activity

In other news, Director Rachel H. Lee sold 24,212 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total transaction of $169,484.00. Following the sale, the director now directly owns 83,613 shares in the company, valued at $585,291. This represents a 22.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.81% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APLD. HC Wainwright raised their price objective on Applied Digital from $7.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, June 3rd. Citigroup restated an "outperform" rating on shares of Applied Digital in a research note on Tuesday, June 3rd. Compass Point restated a "neutral" rating and set a $13.00 price objective (up from $10.00) on shares of Applied Digital in a research note on Monday, June 9th. Roth Capital restated a "buy" rating on shares of Applied Digital in a research note on Monday, June 2nd. Finally, JMP Securities lifted their target price on Applied Digital from $12.00 to $18.00 and gave the stock a "market outperform" rating in a research note on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $12.73.

Applied Digital Stock Down 2.6%

APLD traded down $0.28 during trading hours on Friday, hitting $10.33. The stock had a trading volume of 37,414,020 shares, compared to its average volume of 78,622,720. The company's fifty day simple moving average is $7.38 and its 200 day simple moving average is $7.66. Applied Digital Corporation has a 1 year low of $3.01 and a 1 year high of $15.42. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56.

Applied Digital (NASDAQ:APLD - Get Free Report) last announced its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). Applied Digital had a negative return on equity of 77.49% and a negative net margin of 109.99%. The firm had revenue of $52.92 million during the quarter, compared to analysts' expectations of $62.91 million. During the same period last year, the business posted ($0.24) EPS. Analysts predict that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

About Applied Digital

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.