Insider Buy: Applied Blockchain, Inc. (OTCMKTS:APLD) CEO Buys 20,000 Shares

Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) CEO Wes Cummins purchased 20,000 shares of the stock in a transaction dated Friday, 28th. October. The stock was purchased at an average price of $2.22 per share, with a total value of $44,400.00. Following the acquisition, the chief executive officer now owns 970,686 shares in the company, valued at approximately $2,154,922.92. The transaction was disclosed in a filing with the SEC, which is available via this link.

Wes Cummins also recently made the following trade(s):

• On Monday, October 31st, Wes Cummins bought 20,000 shares of Applied Blockchain stock. The stock was purchased at an average price of $2.24 per share, with a total value of $44,800.00.
• On Wednesday, October 26th, Wes Cummins purchased 20,000 shares of Applied Blockchain stock. The shares were purchased at an average price of $2.23 per share, for a total transaction of $44,600.00.
• On Monday, October 24th, Wes Cummins bought 20,000 shares of Applied Blockchain stock. The stock was purchased at an average price of $2.04 per share, with a total value of $40,800.00.
• On Tuesday, August 30th, Wes Cummins purchased 50,000 shares of Applied Blockchain stock. The stock was purchased at an average price of $2.08 per share, with a total value of $104,000.00.

Used blockchain storage up 1.4%

OTCMKTS APLD traded up $0.03 during trading hours on Monday, reaching $2.25. 331,952 shares of the stock traded hands, compared to its average volume of 1,766,200. The company has a debt ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.23. The stock has a 50-day moving average of $1.97 and a 200-day moving average of $2.32. Applied Blockchain, Inc. has a 12-month low of $0.85 and a 12-month high of $30.00.

Applied Blockchain (OTCMKTS:APLD – Get Rating) last released its quarterly earnings data on Thursday, August 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.22. The business had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $7.00 million. sell-side analysts predict that Applied Blockchain, Inc. will post -0.09 earnings per share for the current year.

Changes in analyst ratings

Separately, Lake Street Capital cut their target price on shares of Applied Blockchain from $10.00 to $6.00 in a report on Wednesday, October 12th. Six research analysts have rated the stock with a buy rating, according to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $7.50.

Hedge funds weigh in on applied blockchain

A number of large investors have recently made changes to their positions in the stock. Equitec Proprietary Markets LLC purchased a new position in shares of Applied Blockchain during the 2nd quarter worth approximately $1,670,000. Northern Trust Corp bought a new position in Applied Blockchain in the 2nd quarter valued at about $47,000. Renaissance Technologies LLC bought a new stake in Applied Blockchain during the 2nd quarter worth about $30,000. Van ECK Associates Corp raised its stake in shares of Applied Blockchain by 3,298.8% during the 3rd quarter. Van ECK Associates Corp now owns 698,253 shares of the company’s stock worth $1,187,000 after buying an additional 677,709 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in Applied Blockchain during the second quarter valued at about $621,000. Hedge funds and other institutional investors own 42.14% of the company’s shares.

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.

Further reading

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