Register Financial Advisors LLC Has $1.43 Million Holdings in Applied Digital Corporation (NASDAQ:APLD)

Register Financial Advisors LLC increased its position in Applied Digital Corporation (NASDAQ:APLD - Free Report) by 26.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 254,200 shares of the company's stock after purchasing an additional 52,700 shares during the period. Register Financial Advisors LLC owned 0.11% of Applied Digital worth $1,429,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in Applied Digital by 4.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 1,042,035 shares of the company's stock worth $5,856,000 after buying an additional 39,945 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Applied Digital by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 119,963 shares of the company's stock valued at $917,000 after acquiring an additional 58,943 shares in the last quarter. Vanguard Group Inc. lifted its stake in Applied Digital by 39.1% during the fourth quarter. Vanguard Group Inc. now owns 12,760,035 shares of the company's stock worth $97,487,000 after purchasing an additional 3,587,619 shares during the last quarter. Rhumbline Advisers boosted its holdings in Applied Digital by 68.7% in the fourth quarter. Rhumbline Advisers now owns 258,892 shares of the company's stock worth $1,978,000 after purchasing an additional 105,428 shares during the period. Finally, Numerai GP LLC acquired a new position in Applied Digital in the fourth quarter worth $790,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on APLD shares. JMP Securities raised their price target on shares of Applied Digital from $12.00 to $18.00 and gave the stock a "market outperform" rating in a research report on Tuesday, June 3rd. Citigroup reissued an "outperform" rating on shares of Applied Digital in a report on Tuesday, June 3rd. B. Riley boosted their price objective on Applied Digital from $8.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Roth Capital restated a "buy" rating on shares of Applied Digital in a research report on Monday, June 2nd. Finally, Compass Point restated a "neutral" rating and issued a $13.00 price target (up previously from $10.00) on shares of Applied Digital in a research note on Monday, June 9th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $12.73.

Insider Activity

In related news, Director Rachel H. Lee sold 24,212 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the sale, the director now directly owns 83,613 shares of the company's stock, valued at approximately $585,291. This represents a 22.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.81% of the company's stock.

Applied Digital Trading Up 4.6%

Shares of NASDAQ APLD traded up $0.45 during mid-day trading on Tuesday, hitting $10.32. 32,594,998 shares of the company traded hands, compared to its average volume of 39,377,930. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.56. Applied Digital Corporation has a 1 year low of $3.01 and a 1 year high of $15.42. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -7.53 and a beta of 6.09. The business has a 50 day moving average of $7.47 and a two-hundred day moving average of $7.64.

Applied Digital (NASDAQ:APLD - Get Free Report) last released its quarterly earnings results on Monday, April 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Applied Digital had a negative net margin of 109.99% and a negative return on equity of 77.49%. The firm had revenue of $52.92 million for the quarter, compared to analyst estimates of $62.91 million. During the same quarter in the prior year, the firm earned ($0.24) EPS. On average, sell-side analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Applied Digital Profile

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.