Regal Partners Ltd Takes $803,000 Position in Applied Digital Corporation $APLD

Regal Partners Ltd acquired a new position in Applied Digital Corporation (NASDAQ:APLD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,000 shares of the company’s stock, valued at approximately $803,000.

Several other large investors have also added to or reduced their stakes in APLD. Atlantic Union Bankshares Corp acquired a new stake in Applied Digital in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new stake in Applied Digital during the 2nd quarter worth about $26,000. Dagco Inc. acquired a new position in shares of Applied Digital during the 3rd quarter worth about $27,000. Evolution Wealth Management Inc. boosted its stake in shares of Applied Digital by 101.8% during the 3rd quarter. Evolution Wealth Management Inc. now owns 1,600 shares of the company’s stock worth $37,000 after buying an additional 807 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Applied Digital by 113.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 6,667 shares of the company’s stock valued at $37,000 after acquiring an additional 3,542 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Wes Cummins sold 165,000 shares of Applied Digital stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $36.42, for a total transaction of $6,009,300.00. Following the completion of the transaction, the chief executive officer owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. This trade represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chuck Hastings sold 45,987 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $38.57, for a total value of $1,773,718.59. Following the completion of the sale, the director owned 388,372 shares in the company, valued at $14,979,508.04. This represents a 10.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 244,593 shares of company stock worth $9,003,278. Company insiders own 9.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on APLD. Texas Capital raised Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. Roth Mkm reissued a “buy” rating on shares of Applied Digital in a research report on Tuesday, February 17th. Lake Street Capital restated a “buy” rating and issued a $45.00 price target on shares of Applied Digital in a research note on Tuesday, December 30th. Freedom Capital raised Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 6th. Finally, B. Riley Financial upped their price objective on Applied Digital to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $37.00.

Applied Digital Stock Down 10.5%

Applied Digital stock opened at $25.13 on Friday. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. The company’s 50-day moving average is $32.64 and its 200-day moving average is $27.96. The firm has a market capitalization of $7.03 billion, a PE ratio of -46.54 and a beta of 7.20. Applied Digital Corporation has a fifty-two week low of $3.31 and a fifty-two week high of $42.27.

Applied Digital Company Profile

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.