Applied Blockchain, Inc. (OTCMKTS:APLD) CEO Wes Cummins Buys 30,000 Shares


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

Wes Cummins also recently completed the following transactions:

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

Applied blockchain trading increased 5.0%

OTCMKTS: APLD it rose $0.12 on Monday, reaching $2.53. The stock had a trading volume of 841,538 shares, compared to its average volume of 1,738,481. The firm 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 minimum of $0.85 and a 1-year maximum of $28.32. The company’s fifty day simple moving average is $2.00 and its two hundred day simple moving average is $2.24.

Applied Blockchain (OTCMKTS: APLDget rating) last posted its earnings results on Thursday, August 25. The company reported earnings per share ($0.06) for the quarter, beating analyst consensus estimates of ($0.28) by $0.22. The company had revenue of $7.50 million in the quarter, compared to the consensus estimate of $7.00 million. Research analysts forecast Applied Blockchain, Inc. to post -0.09 EPS for the current year.

Wall Street analyst thinks

Separately, Lake Street Capital lowered the price target on Applied Blockchain shares from $10.00 to $6.00 in a report on Wednesday, Oct. 12. Six research analysts have given the stock a buy rating. According to data from MarketBeat.com, Applied Blockchain currently has a consensus rating of “Buy” and an average price target of $7.50.

Institutional entrances and exits

Several institutional investors and hedge funds have recently modified their APLD holdings. Advisory Services Network LLC purchased a new position in Applied Blockchain stock during the second quarter valued at approximately $26,000. Renaissance Technologies LLC purchased a new position in Applied Blockchain in the second quarter valued at approximately $30,000. Virtu Financial LLC increased its holdings in Applied Blockchain by 89.4% in the third quarter. Virtu Financial LLC now owns 20,516 shares of the company worth $35,000 after purchasing an additional 9,682 shares during the period. KCL Capital LP purchased a new position in Applied Blockchain in the second quarter worth approximately $42,000. Finally, Northern Trust Corp purchased a new position in Applied Blockchain in the second quarter worth approximately $47,000. 42.14% of the shares are owned by institutional investors.

Applied Blockchain Company Profile

(get rating)

Applied Blockchain, Inc designs, develops and operates data centers in North America. Its 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.

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