TFR Capital LLC. Acquires 301,954 Shares of Applied Digital Corporation $APLD

TFR Capital LLC. raised its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 425.3% in the first quarter, Holdings Channel.com reports. The institutional investor owned 372,960 shares of the company’s stock after purchasing an additional 301,954 shares during the quarter. Applied Digital comprises about 2.9% of TFR Capital LLC.’s holdings, making the stock its 5th biggest position. TFR Capital LLC.’s holdings in Applied Digital were worth $9,497,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of APLD. Newbridge Financial Services Group Inc. boosted its position in Applied Digital by 8.6% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,800 shares of the company’s stock worth $93,000 after acquiring an additional 300 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in Applied Digital by 1.5% in the 4th quarter. Concurrent Investment Advisors LLC now owns 21,332 shares of the company’s stock valued at $523,000 after acquiring an additional 318 shares during the last quarter. Brookstone Capital Management lifted its stake in Applied Digital by 3.6% in the 4th quarter. Brookstone Capital Management now owns 9,275 shares of the company’s stock worth $227,000 after purchasing an additional 321 shares in the last quarter. Independent Advisor Alliance lifted its stake in Applied Digital by 4.6% in the 4th quarter. Independent Advisor Alliance now owns 9,215 shares of the company’s stock worth $226,000 after purchasing an additional 407 shares in the last quarter. Finally, Vermillion Wealth Management Inc. boosted its holdings in shares of Applied Digital by 29.4% during the 1st quarter. Vermillion Wealth Management Inc. now owns 2,563 shares of the company’s stock worth $61,000 after purchasing an additional 583 shares during the last quarter. 65.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

APLD has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Applied Digital in a research report on Friday, April 24th. Zacks Research lowered Applied Digital from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. B. Riley Financial restated a “buy” rating and issued a $66.00 target price (up from $53.00) on shares of Applied Digital in a report on Wednesday, May 27th. Northland Securities set a $82.00 target price on Applied Digital and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Finally, Needham & Company LLC lifted their price target on Applied Digital from $66.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.56.

Insider Buying and Selling

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

Applied Digital Stock Performance

Applied Digital stock opened at $28.84 on Tuesday. The firm has a 50 day simple moving average of $41.50 and a 200-day simple moving average of $34.40. The stock has a market cap of $8.24 billion, a price-to-earnings ratio of -38.97 and a beta of 5.67. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.38 and a quick ratio of 2.38. Applied Digital Corporation has a 1-year low of $9.23 and a 1-year high of $50.72.

Applied Digital 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.