Road to Success

Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) CEO Wes Cummins purchased 50,000 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was bought at an average cost of $2.23 per share, for a total transaction of $111,500.00. Following the acquisition, the chief executive officer now directly owns 1,240,686 shares of the company’s stock, valued at approximately $2,766,729.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 11th, Wes Cummins purchased 40,000 shares of Applied Blockchain stock. The stock was bought at an average cost of $2.23 per share, for a total transaction of $89,200.00.
• On Wednesday, November 9th, Wes Cummins purchased 30,000 shares of Applied Blockchain stock. The stock was bought at an average cost of $2.14 per share, for a total transaction of $64,200.00.
• On Monday, November 7th, Wes Cummins bought 30,000 shares of Applied Blockchain stock. The shares were purchased at an average cost of $2.52 per share, for a total transaction of $75,600.00.
• On Monday, October 31st, Wes Cummins bought 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 bought 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 bought 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 bought 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 bought at an average price of $2.08 per share, for a total transaction of $104,000.00.

Applied Blockchain Price Performance

OTCMKTS:APLD traded up $0.13 during trading hours on Friday, reaching $2.24. The company’s stock had a trading volume of 642,168 shares, compared to its average volume of 702,524. 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 one year low of $0.85 and a one year high of $28.08. The business’s 50-day moving average is $2.03 and its 200-day moving average is $2.13.

Applied Blockchain (OTCMKTS:APLD – Get Rating) last released its earnings results on Tuesday, October 11th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $6.92 million for the quarter, compared to analyst estimates of $6.69 million. Research analysts anticipate that Applied Blockchain, Inc. will post -0.09 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of Applied Blockchain during the second quarter valued at about $26,000. Renaissance Technologies LLC acquired a new position in shares of Applied Blockchain during the second quarter valued at about $30,000. Virtu Financial LLC raised its position in shares of Applied Blockchain by 89.4% during the third quarter. Virtu Financial LLC now owns 20,516 shares of the company’s stock valued at $35,000 after buying an additional 9,682 shares during the last quarter. UBS Group AG acquired a new position in shares of Applied Blockchain during the third quarter valued at about $36,000. Finally, KCL Capital L.P. acquired a new position in shares of Applied Blockchain during the second quarter valued at about $42,000. Institutional investors and hedge funds own 42.14% of the company’s stock.

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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