Applied Blockchain, Inc. (OTCMKTS:APLD) receives consensus rating of “Buy” from analysts
Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) has received a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have updated coverage on the stock in the last year is $7.50.
Separately, Lake Street Capital lowered their price objective on Applied Blockchain from $10.00 to $6.00 in a research note on Wednesday, October 12th.
Insider buying and selling
In other news, CEO Wes Cummins acquired 20,000 shares of Applied Blockchain stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average price of $2.04 per share, with a total value of $40,800.00. Following the completion of the transaction, the chief executive officer now directly owns 890,686 shares in the company, valued at $1,816,999.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 143,490 shares of company stock valued at $306,704 over the last ninety days. 28.90% of the shares are owned by the company’s insiders.
Institutional inflows and outflows
Hedge funds have recently bought and sold shares. Equitec Proprietary Markets LLC bought a new position in Applied Blockchain during the second quarter worth $1,670,000. Northern Trust Corp purchased a new stake in Applied Blockchain in the second quarter valued at $47,000. Renaissance Technologies LLC acquired a new stake in Applied Blockchain in the second quarter valued at $30,000. Van ECK Associates Corp raised its stake in Applied Blockchain by 3,298.8% in the third quarter. Van ECK Associates Corp now owns 698,253 shares of the company’s stock valued at $1,187,000 after buying an additional 677,709 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in Applied Blockchain in the second quarter valued at $621,000. 42.14% of the share is currently owned by institutional investors and hedge funds.
Applied Blockchain Stock Performance
OTCMKTS:APLD opened at $2.41 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.23. Applied Blockchain has a fifty-two week low of $0.85 and a fifty-two week high of $30.00. The stock’s 50-day moving average is $2.00 and its two-hundred-day moving average is $2.25.
Applied Blockchain (OTCMKTS:APLD – Get Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.22. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.00 million. sell-side analysts anticipate that Applied Blockchain will post -0.09 earnings per share for the current year.
About Applied Blockchain
(Get rating)
Applied Blockchain, Inc designs, develops and operates data centers in North America. Their data centers provide digital infrastructure solutions to the performance computing industry. The company was previously known as Applied Science Products, Inc and changed its name to Applied Blockchain, Inc in April 2021.
See also
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