Register Financial Advisors LLC Buys 137,500 Shares of Applied Digital Co. (NASDAQ:APLD)

Register Financial Advisors LLC raised its stake in Applied Digital Co. (NASDAQ:APLD) by 74.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 323,400 shares of the company’s stock after purchasing an additional 137,500 shares during the period. Register Financial Advisors LLC owned 0.26% of Applied Digital worth $1,384,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its position in Applied Digital by 380.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 8,017 shares of the company’s stock worth $54,000 after buying an additional 6,347 shares during the period. Capstone Investment Advisors LLC bought a new stake in Applied Digital in the 4th quarter worth about $78,000. ICA Group Wealth Management LLC bought a new position in shares of Applied Digital in the fourth quarter valued at approximately $81,000. Chesapeake Capital Corp IL bought a new stake in shares of Applied Digital during the 4th quarter worth $86,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Applied Digital in the fourth quarter worth about $101,000. 65.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Applied Digital in a research report on Friday, June 14th. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Applied Digital in a research note on Wednesday, June 12th. Lake Street Capital reduced their price objective on Applied Digital from $19.00 to $7.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Roth Mkm lifted their target price on shares of Applied Digital from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Monday. Finally, B. Riley boosted their price objective on Applied Digital from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Applied Digital presently has an average rating of “Buy” and an average price target of $8.40.

Applied Digital Stock Down 4.6 %

APLD stock traded down $0.29 during midday trading on Friday, hitting $5.95. The company’s stock had a trading volume of 8,821,682 shares, compared to its average volume of 4,171,165. The company has a market cap of $816.40 million, a PE ratio of -7.53 and a beta of 4.38. The firm’s 50-day moving average is $4.19 and its 200-day moving average is $4.73. Applied Digital Co. has a 12 month low of $2.36 and a 12 month high of $11.07. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.90.

Applied Digital (NASDAQ:APLD) last released its quarterly earnings results on Thursday, April 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.40). The firm had revenue of $43.35 million during the quarter, compared to analysts’ expectations of $50.36 million. Applied Digital had a negative return on equity of 75.46% and a negative net margin of 61.84%. On average, equities research analysts forecast that Applied Digital Co. will post -1.03 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.