Applied Digital Corporation $APLD Holdings Decreased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. decreased its holdings in shares of Applied Digital Corporation (NASDAQ:APLD) by 58.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,850 shares of the company’s stock after selling 19,775 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Applied Digital were worth $139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Applied Digital during the second quarter worth $102,000. Sovereign Financial Group Inc. purchased a new stake in shares of Applied Digital during the second quarter worth $194,000. SLT Holdings LLC purchased a new stake in shares of Applied Digital during the second quarter worth $176,000. Blair William & Co. IL raised its holdings in shares of Applied Digital by 42.6% during the second quarter. Blair William & Co. IL now owns 138,163 shares of the company’s stock worth $1,391,000 after acquiring an additional 41,253 shares in the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Applied Digital by 56.1% during the second quarter. Clear Creek Financial Management LLC now owns 78,383 shares of the company’s stock worth $789,000 after acquiring an additional 28,177 shares in the last quarter. 65.67% of the stock is currently owned by hedge funds and other institutional investors.

Applied Digital Trading Up 0.1%

Shares of NASDAQ:APLD opened at $33.43 on Monday. The company has a market cap of $9.35 billion, a P/E ratio of -29.58 and a beta of 6.77. The stock’s 50-day moving average is $22.91 and its 200-day moving average is $13.90. Applied Digital Corporation has a 52-week low of $3.31 and a 52-week high of $40.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.65 and a current ratio of 0.65.

Applied Digital (NASDAQ:APLD) last issued its quarterly earnings results on Thursday, October 9th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.08. Applied Digital had a negative return on equity of 37.14% and a negative net margin of 111.29%.The company had revenue of $38.01 million for the quarter, compared to the consensus estimate of $52.25 million. During the same period last year, the business posted ($0.15) earnings per share. The firm’s revenue was up 84.3% compared to the same quarter last year. Equities research analysts predict that Applied Digital Corporation will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

APLD has been the subject of several recent research reports. Needham & Company LLC increased their price objective on Applied Digital from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Craig Hallum increased their price objective on Applied Digital to $39.00 and gave the stock a “buy” rating in a report on Thursday. Compass Point began coverage on shares of Applied Digital in a research report on Monday, September 15th. They set a “buy” rating on the stock. B. Riley restated a “buy” rating on shares of Applied Digital in a report on Wednesday. Finally, Wall Street Zen cut Applied Digital from a “hold” rating to a “sell” rating in a research report on Sunday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Applied Digital presently has an average rating of “Moderate Buy” and an average price target of $23.70.

Insiders Place Their Bets

In other Applied Digital news, Director Richard N. Nottenburg sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $15.26, for a total value of $305,200.00. Following the completion of the sale, the director owned 297,987 shares in the company, valued at approximately $4,547,281.62. This trade represents a 6.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mohammad Saidal Lavanw Mohmand sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $15.26, for a total value of $1,144,500.00. Following the completion of the sale, the chief financial officer owned 201,800 shares of the company’s stock, valued at $3,079,468. This represents a 27.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 506,250 shares of company stock worth $7,713,675. 9.50% of the stock is currently owned by company insiders.

Applied Digital 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.