Applied Blockchain, Inc. (OTCMKTS:APLD) CEO Acquires $104,000.00 in Stock

Applied Blockchain, Inc. (OTCMKTS:APLDGet Rating) CEO Wes Cummins purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were purchased at an average cost of $2.08 per share, with a total value of $104,000.00. Following the completion of the acquisition, the chief executive officer now owns 820,686 shares in the company, valued at approximately $1,707,026.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Applied Blockchain Price Performance

Applied Blockchain stock opened at $2.24 on Friday. The firm has a 50-day moving average price of $1.76 and a two-hundred day moving average price of $5.74. Applied Blockchain, Inc. has a 52-week low of $0.85 and a 52-week high of $34.20.

Institutional Trading of Applied Blockchain

A number of institutional investors have recently made changes to their positions in APLD. Advisory Services Network LLC acquired a new stake in shares of Applied Blockchain in the 2nd quarter worth approximately $26,000. Renaissance Technologies LLC bought a new stake in shares of Applied Blockchain in the 2nd quarter worth approximately $30,000. KCL Capital L.P. bought a new stake in shares of Applied Blockchain in the 2nd quarter worth approximately $42,000. Northern Trust Corp bought a new stake in shares of Applied Blockchain in the 2nd quarter worth approximately $47,000. Finally, B. Riley Financial Inc. bought a new stake in shares of Applied Blockchain in the 2nd quarter worth approximately $64,000. 42.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on APLD shares. DA Davidson started coverage on shares of Applied Blockchain in a report on Tuesday, May 24th. They set a “buy” rating and a $6.00 price target for the company. Lake Street Capital assumed coverage on shares of Applied Blockchain in a report on Monday, May 9th. They set a “buy” rating and a $10.00 price target for the company. B. Riley assumed coverage on shares of Applied Blockchain in a report on Monday, May 9th. They set a “buy” rating and a $10.00 price objective for the company. Northland Securities assumed coverage on shares of Applied Blockchain in a report on Monday, May 9th. They set an “outperform” rating and a $7.50 price objective for the company. Finally, Craig Hallum assumed coverage on shares of Applied Blockchain in a report on Monday, May 23rd. They set a “buy” rating and a $10.00 price objective for the company. Six analysts have rated the stock with a buy rating, According to MarketBeat, Applied Blockchain currently has an average rating of “Buy” and a consensus target price of $8.17.

About Applied Blockchain

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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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