Stratos Wealth Partners LTD. Has $2.43 Million Position in Applied Digital Corporation $APLD

Stratos Wealth Partners LTD. lifted its holdings in Applied Digital Corporation (NASDAQ:APLD) by 663.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,782 shares of the company’s stock after purchasing an additional 91,932 shares during the period. Stratos Wealth Partners LTD.’s holdings in Applied Digital were worth $2,427,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Hood River Capital Management LLC increased its position in Applied Digital by 2.8% in the 2nd quarter. Hood River Capital Management LLC now owns 21,859,031 shares of the company’s stock worth $220,120,000 after buying an additional 592,314 shares during the period. Situational Awareness LP grew its stake in shares of Applied Digital by 63.3% in the second quarter. Situational Awareness LP now owns 6,591,800 shares of the company’s stock worth $66,379,000 after acquiring an additional 2,556,200 shares during the last quarter. BNP Paribas Financial Markets increased its position in Applied Digital by 24,356.8% during the second quarter. BNP Paribas Financial Markets now owns 5,219,565 shares of the company’s stock worth $52,561,000 after acquiring an additional 5,198,223 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Applied Digital by 24.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,661,296 shares of the company’s stock worth $26,799,000 after acquiring an additional 514,896 shares during the period. Finally, HRT Financial LP acquired a new position in Applied Digital during the 2nd quarter valued at $14,759,000. Institutional investors own 65.67% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on APLD shares. Citigroup restated an “outperform” rating on shares of Applied Digital in a research report on Wednesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $41.00 target price on shares of Applied Digital in a research report on Thursday, January 8th. Freedom Capital upgraded Applied Digital to a “strong-buy” rating in a research note on Tuesday, January 6th. Northland Securities set a $56.00 price objective on Applied Digital in a research report on Wednesday, January 28th. Finally, Arete Research initiated coverage on Applied Digital in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $34.73.

Applied Digital Stock Performance

NASDAQ:APLD opened at $35.28 on Friday. The firm has a market capitalization of $9.86 billion, a PE ratio of -65.33 and a beta of 7.25. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 1.79. Applied Digital Corporation has a 12-month low of $3.31 and a 12-month high of $42.27. The firm has a 50-day moving average price of $31.87 and a 200 day moving average price of $26.34.

Insider Buying and Selling

In other Applied Digital news, Director Richard N. Nottenburg sold 12,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $35.45, for a total transaction of $425,400.00. Following the completion of the transaction, the director directly owned 233,378 shares in the company, valued at $8,273,250.10. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Douglas S. Miller sold 10,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $38.54, for a total transaction of $385,400.00. Following the completion of the sale, the director owned 200,859 shares in the company, valued at $7,741,105.86. This represents a 4.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 244,593 shares of company stock worth $9,003,278 in the last quarter. Corporate insiders own 9.50% of the company’s stock.

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.