Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) – Equities researchers at B. Riley reduced their FY2022 earnings per share estimates for Applied Blockchain in a research note issued on Wednesday, May 18th. B. Riley analyst L. Pipes now forecasts that the company will post earnings of ($0.86) per share for the year, down from their prior forecast of ($0.59). B. Riley currently has a “Buy” rating and a $10.00 target price on the stock. B. Riley also issued estimates for Applied Blockchain’s Q4 2022 earnings at ($0.47) EPS.
Other research analysts also recently issued reports about the stock. Lake Street Capital started coverage on shares of Applied Blockchain in a research report on Monday, May 9th. They set a “buy” rating and a $10.00 target price for the company. Needham & Company LLC started coverage on shares of Applied Blockchain in a research report on Monday, May 9th. They set a “buy” rating and a $5.50 target price for the company. Finally, Northland Securities started coverage on shares of Applied Blockchain in a research report on Monday, May 9th. They set an “outperform” rating and a $7.50 target price for the company.
OTCMKTS:APLD opened at $3.65 on Monday. Applied Blockchain has a 52 week low of $1.73 and a 52 week high of $34.20. The firm has a 50-day moving average price of $8.63 and a two-hundred day moving average price of $15.25.
In other news, CEO Wes Cummins purchased 263,542 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was purchased at an average cost of $2.31 per share, with a total value of $608,782.02. Following the acquisition, the chief executive officer now directly owns 263,542 shares in the company, valued at $608,782.02. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Virginia Moore acquired 50,000 shares of the stock in a transaction dated Tuesday, May 17th. The shares were bought at an average price of $2.29 per share, for a total transaction of $114,500.00. Following the transaction, the director now owns 267,617 shares in the company, valued at approximately $612,842.93. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 324,572 shares of company stock valued at $755,821. 27.46% of the stock is owned by insiders.
About Applied Blockchain (Get Rating)
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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