Regal Partners Ltd Makes New $803,000 Investment in Applied Digital Corporation $APLD

Regal Partners Ltd acquired a new stake in Applied Digital Corporation (NASDAQ:APLD) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 35,000 shares of the company’s stock, valued at approximately $803,000.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC lifted its stake in shares of Applied Digital by 84.8% during the 1st quarter. AQR Capital Management LLC now owns 18,945 shares of the company’s stock worth $106,000 after buying an additional 8,692 shares during the last quarter. NewEdge Advisors LLC grew its stake in Applied Digital by 239.1% in the 1st quarter. NewEdge Advisors LLC now owns 33,267 shares of the company’s stock valued at $187,000 after buying an additional 23,457 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in 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 during the period. Strs Ohio bought a new position in Applied Digital in the 1st quarter valued at about $71,000. Finally, Teacher Retirement System of Texas lifted its position in Applied Digital by 10.2% during the second quarter. Teacher Retirement System of Texas now owns 27,252 shares of the company’s stock worth $274,000 after acquiring an additional 2,515 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on APLD shares. Wall Street Zen upgraded Applied Digital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Freedom Capital upgraded Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 6th. Roth Mkm reissued a “buy” rating on shares of Applied Digital in a report on Tuesday, February 17th. Texas Capital upgraded Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Applied Digital in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $37.00.

Insider Buying and Selling at Applied Digital

In other news, CEO Wes Cummins sold 165,000 shares of Applied Digital stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $36.42, for a total value of $6,009,300.00. Following the completion of the sale, the chief executive officer directly owned 4,176,329 shares in the company, valued at approximately $152,101,902.18. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Chuck Hastings sold 45,987 shares of the business’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 of the company’s stock, valued at approximately $14,979,508.04. This trade represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 244,593 shares of company stock valued at $9,003,278 in the last three months. Corporate insiders own 9.50% of the company’s stock.

Applied Digital Stock Performance

NASDAQ APLD opened at $25.13 on Friday. The firm has a 50-day moving average price of $32.64 and a two-hundred day moving average price of $27.96. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $42.27. The company has a market capitalization of $7.03 billion, a P/E ratio of -46.54 and a beta of 7.20. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79.

About Applied Digital

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.