Stratos Wealth Partners LTD. Purchases Shares of 33,625 Applied Digital Corporation (NASDAQ:APLD)

Stratos Wealth Partners LTD. purchased a new stake in Applied Digital Corporation (NASDAQ:APLD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 33,625 shares of the company’s stock, valued at approximately $189,000.

Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of Applied Digital during the 4th quarter worth about $37,000. Jones Financial Companies Lllp bought a new position in shares of Applied Digital during the 4th quarter worth about $39,000. Lbmc Investment Advisors LLC bought a new position in shares of Applied Digital during the 1st quarter worth about $67,000. Mayfair Advisory Group LLC bought a new position in shares of Applied Digital during the 1st quarter worth about $68,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Applied Digital by 143.1% during the 4th quarter. NewEdge Advisors LLC now owns 9,810 shares of the company’s stock worth $75,000 after acquiring an additional 5,775 shares during the period. 65.67% of the stock is owned by institutional investors.

Applied Digital Trading Up 0.9%

APLD opened at $10.06 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $2.26 billion, a PE ratio of -7.34 and a beta of 6.04. Applied Digital Corporation has a 1-year low of $3.01 and a 1-year high of $15.42. The firm has a 50-day moving average price of $9.31 and a two-hundred day moving average price of $7.78.

Applied Digital (NASDAQ:APLD) last posted its quarterly earnings data on Monday, April 14th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The company had revenue of $52.92 million during the quarter, compared to analyst estimates of $62.91 million. Applied Digital had a negative net margin of 109.99% and a negative return on equity of 77.49%. During the same quarter in the previous year, the business posted ($0.24) EPS. As a group, equities analysts anticipate that Applied Digital Corporation will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

APLD has been the subject of a number of analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Applied Digital in a report on Tuesday, June 3rd. Craig Hallum raised their price objective on shares of Applied Digital from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. B. Riley raised their price objective on shares of Applied Digital from $8.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Cantor Fitzgerald reduced their price objective on shares of Applied Digital from $14.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Finally, JMP Securities increased their target price on shares of Applied Digital from $12.00 to $18.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.73.

Insiders Place Their Bets

In other Applied Digital news, Director Rachel H. Lee sold 24,212 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $7.00, for a total value of $169,484.00. Following the completion of the sale, the director owned 83,613 shares in the company, valued at approximately $585,291. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.81% of the company’s stock.

Applied Digital Company Profile

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.