Road to Success

Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) CEO Wes Cummins acquired 30,000 shares of Applied Blockchain stock in a transaction that occurred on Monday, November 7th. The stock was acquired at an average cost of $2.52 per share, for a total transaction of $75,600.00. Following the purchase, the chief executive officer now owns 1,020,686 shares of the company’s stock, valued at $2,572,128.72. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, October 31st, Wes Cummins purchased 20,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.24 per share, for a total transaction of $44,800.00.
• On Friday, October 28th, Wes Cummins purchased 20,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.22 per share, for a total transaction of $44,400.00.
• On Wednesday, October 26th, Wes Cummins purchased 20,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.23 per share, for a total transaction of $44,600.00.
• On Monday, October 24th, Wes Cummins purchased 20,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.04 per share, for a total transaction of $40,800.00.
• On Tuesday, August 30th, Wes Cummins purchased 50,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $104,000.00.

Applied Blockchain Trading Up 5.0 %

OTCMKTS:APLD traded up $0.12 on Monday, hitting $2.53. The stock had a trading volume of 841,538 shares, compared to its average volume of 1,738,481. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23. Applied Blockchain, Inc. has a 1 year low of $0.85 and a 1 year high of $28.32. The firm’s fifty day simple moving average is $2.00 and its two-hundred day simple moving average is $2.24.

Applied Blockchain (OTCMKTS:APLD – Get Rating) last released its 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 company had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.00 million. Research analysts forecast that Applied Blockchain, Inc. will post -0.09 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Lake Street Capital lowered 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 data from MarketBeat.com, Applied Blockchain presently has a consensus rating of “Buy” and an average target price of $7.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of APLD. Advisory Services Network LLC bought a new position in shares of Applied Blockchain during the 2nd quarter valued at approximately $26,000. Renaissance Technologies LLC bought a new position in Applied Blockchain in the 2nd quarter worth approximately $30,000. Virtu Financial LLC boosted its holdings in Applied Blockchain by 89.4% in the 3rd quarter. Virtu Financial LLC now owns 20,516 shares of the company’s stock worth $35,000 after buying an additional 9,682 shares during the period. KCL Capital L.P. bought a new position in Applied Blockchain in the 2nd quarter worth approximately $42,000. Finally, Northern Trust Corp bought a new position in Applied Blockchain in the 2nd quarter worth approximately $47,000. 42.14% of the stock is owned by institutional investors.

Applied Blockchain Company Profile

(Get Rating)

Applied Blockchain, Inc designs, develops, and operates datacenters in North America. Its datacenters provide digital infrastructure solutions to the performance computing industry. The company was formerly known as Applied Science Products, Inc and changed its name to Applied Blockchain, Inc in April 2021.

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