Shares of Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) have earned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.17.
A number of equities research analysts recently commented on APLD shares. Craig Hallum assumed coverage on Applied Blockchain in a research report on Monday, May 23rd. They set a “buy” rating and a $10.00 price target on the stock. Northland Securities started coverage on Applied Blockchain in a research note on Monday, May 9th. They issued an “outperform” rating and a $7.50 price target on the stock. B. Riley started coverage on Applied Blockchain in a research note on Monday, May 9th. They issued a “buy” rating and a $10.00 price target on the stock. Needham & Company LLC started coverage on Applied Blockchain in a research note on Monday, May 9th. They issued a “buy” rating and a $5.50 price target on the stock. Finally, Lake Street Capital assumed coverage on Applied Blockchain in a research note on Monday, May 9th. They issued a “buy” rating and a $10.00 price target on the stock.
Insiders Place Their Bets
In other news, CEO Wes Cummins acquired 11,030 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were acquired at an average cost of $2.95 per share, with a total value of $32,538.50. Following the completion of the purchase, the chief executive officer now directly owns 391,472 shares of the company’s stock, valued at approximately $1,154,842.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Applied Blockchain news, Director Virginia Moore acquired 50,000 shares of Applied Blockchain stock in a transaction that occurred on Tuesday, May 17th. The shares were bought at an average price of $2.29 per share, with a total value of $114,500.00. Following the completion of the purchase, the director now directly owns 267,617 shares in the company, valued at approximately $612,842.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wes Cummins acquired 11,030 shares of Applied Blockchain stock in a transaction that occurred on Thursday, May 19th. The stock was acquired at an average cost of $2.95 per share, for a total transaction of $32,538.50. Following the purchase, the chief executive officer now owns 391,472 shares of the company’s stock, valued at $1,154,842.40. The disclosure for this purchase can be found here. Insiders purchased 544,955 shares of company stock worth $1,685,964 over the last three months. Insiders own 27.46% of the company’s stock.
Hedge Funds Weigh In On Applied Blockchain
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Several institutional investors have recently made changes to their positions in APLD. Advisory Services Network LLC bought a new stake in Applied Blockchain in the 2nd quarter worth about $26,000. Granite Point Capital Management L.P. bought a new stake in Applied Blockchain in the 2nd quarter worth about $1,545,000. Finally, Equitec Proprietary Markets LLC bought a new stake in Applied Blockchain in the 2nd quarter worth about $1,670,000. Institutional investors and hedge funds own 2.65% of the company’s stock.
Applied Blockchain Stock Performance
Shares of OTCMKTS APLD opened at $2.03 on Friday. The stock’s fifty day simple moving average is $1.98 and its 200 day simple moving average is $7.18. Applied Blockchain has a 52-week low of $0.85 and a 52-week high of $34.20.
Applied Blockchain (OTCMKTS:APLD – Get Rating) last announced its quarterly earnings results on Friday, May 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $1.03 million during the quarter, compared to analyst estimates of $0.98 million. Analysts predict that Applied Blockchain will post -0.61 EPS for the current year.
Applied Blockchain Company Profile
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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