42,636 Shares in Applied Digital Corporation $APLD Purchased by MRA Advisory Group

MRA Advisory Group acquired a new stake in Applied Digital Corporation (NASDAQ:APLD) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,636 shares of the company’s stock, valued at approximately $978,000.

Several other hedge funds also recently bought and sold shares of the stock. State of New Jersey Common Pension Fund D acquired a new stake in shares of Applied Digital during the third quarter valued at about $3,094,000. PNC Financial Services Group Inc. boosted its position in shares of Applied Digital by 7.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,951 shares of the company’s stock worth $137,000 after purchasing an additional 408 shares during the period. Uniting Wealth Partners LLC increased its holdings in Applied Digital by 15.2% in the 3rd quarter. Uniting Wealth Partners LLC now owns 110,133 shares of the company’s stock valued at $2,526,000 after purchasing an additional 14,533 shares during the last quarter. Pacific Point Advisors LLC purchased a new stake in Applied Digital in the third quarter valued at approximately $319,000. Finally, Wedbush Securities Inc. lifted its stake in Applied Digital by 5.7% during the third quarter. Wedbush Securities Inc. now owns 10,785 shares of the company’s stock worth $247,000 after purchasing an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Insider Activity

In other Applied Digital news, Director Richard N. Nottenburg sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.45, for a total value of $425,400.00. Following the sale, the director directly owned 233,378 shares of the company’s stock, valued at approximately $8,273,250.10. This represents a 4.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Douglas S. Miller sold 10,000 shares of the firm’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. The trade was a 4.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 244,593 shares of company stock valued at $9,003,278 over the last three months. 9.50% of the stock is currently owned by corporate insiders.

Applied Digital Price Performance

Shares of NASDAQ APLD opened at $35.28 on Monday. The company has a debt-to-equity ratio of 1.79, a current ratio of 4.82 and a quick ratio of 4.82. The company has a market cap of $9.86 billion, a price-to-earnings ratio of -65.33 and a beta of 7.25. The stock’s 50-day moving average is $31.87 and its two-hundred day moving average is $26.46. Applied Digital Corporation has a 1-year low of $3.31 and a 1-year high of $42.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Roth Mkm lifted their price objective on Applied Digital to $58.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Texas Capital raised Applied Digital to a “strong-buy” rating in a research report on Tuesday, January 20th. B. Riley Financial increased their price target on shares of Applied Digital to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Lake Street Capital reissued a “buy” rating and issued a $45.00 price objective on shares of Applied Digital in a research note on Tuesday, December 30th. Finally, Wall Street Zen upgraded shares of Applied Digital from a “sell” rating to a “hold” rating in a report on Saturday, January 10th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Applied Digital currently has a consensus rating of “Buy” and an average target price of $34.73.

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.