Applied Blockchain, Inc.’s (OTCMKTS:APLD) lockup period will expire on October 10

Applied Blockchain’s (OTCMKTS:APLD – Get Rating) lockup period is set to expire on Monday, October 10th. Applied Blockchain had issued 8,000,000 shares in its April 13 IPO. The total size of the offering was $40,000,000 based on an initial share price of $5.00. After the end of the company’s binding period, the company’s insiders and major shareholders will be able to sell their shares in the company.

Applied Blockchain Price Performance

Shares of Applied Blockchain stock opened at $1.70 on Monday. The company has a debt ratio of 1.70, a quick ratio of 1.70 and a debt ratio of 0.14. Applied Blockchain has a one year low of $0.85 and a one year high of $34.20. The firm’s 50-day moving average is $2.05 and its two-hundred-day moving average is $4.20.

Applied Blockchain (OTCMKTS:APLD – Get Rating) last posted its quarterly earnings results on Thursday, August 25th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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. As a group, sell-side analysts anticipate that Applied Blockchain will post 0.03 EPS for the current fiscal year.

Insider transactions at Applied Blockchain

In other Applied Blockchain news, CEO Wes Cummins purchased 50,000 shares of Applied Blockchain stock in a transaction dated Tuesday, August 30th. The shares were purchased at an average price of $2.08 per share, with a total value of $104,000.00. Following the completion of the transaction, the chief executive officer now owns 820,686 shares in the company, valued at approximately $1,707,026.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have purchased 63,490 shares of company stock valued at $132,104. Company insiders own 27.46% of the company’s shares.

Hedge funds weigh in on applied blockchain

Several hedge funds have recently made changes to their positions in APLD. Advisory Services Network LLC bought a new stake in Applied Blockchain during the 2nd quarter worth about $26,000. Renaissance Technologies LLC bought a new stake in Applied Blockchain during the 2nd quarter worth about $30,000. KCL Capital LP bought a new stake in Applied Blockchain during the 2nd quarter worth about $42,000. Northern Trust Corp bought a new stake in Applied Blockchain during the 2nd quarter worth about $47,000. Finally, B. Riley Financial Inc. bought a new stake in Applied Blockchain during the 2nd quarter worth about $64,000. 42.14% of the share is owned by institutional investors and hedge funds.

About Applied Blockchain

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Applied Blockchain, Inc engages in crypto mining and co-hosting operations. The company was formerly known as Applied Science Products, Inc and changed its name to Applied Blockchain, Inc in April 2021. The company is based in Dallas, Texas.

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