Applied Blockchain, Inc. (OTCMKTS: APLD – get rating) CMO Regina Ingel sold 14,500 shares in a transaction that took place on Thursday, November 10th. The shares sold for an average of $2.14, with a total trading value of her $31,030.00. Following the closing of the sale, the Chief Marketing Officer now owns 9,892 of her shares valued at $21,168.88. The transaction was disclosed in filings with the Securities and Exchange Commission. This hyperlink.
Applied blockchain transaction + 0.4 %
shares of APLD It rose $0.01 to $2.35 on Monday. 1,114,116 shares were hand traded, but the average trading volume was 1,725,372 shares for him. Applied Blockchain, Inc. has a one-year low of $0.85 and a one-year high of $28.32. The stock has a 50-day moving average of $2.01 and a 200-day moving average of $2.18. The company has an equity ratio of 0.23, a quick ratio of 0.87 and a current ratio of 0.87.
Applied Blockchain (OTCMKTS: APLD – get rating) last reported quarterly results on Tuesday, October 11. The company reported his earnings per share for the quarter ($0.04), beating analyst consensus expectations ($0.06) by $0.02. The business generated $6.92 million in revenue for the quarter, compared to analyst estimates of $6.69 million. On average, research analysts expect Applied Blockchain, Inc. to post -0.09 earnings per share this year.
Analyst sets new price target
Separately, Lake Street Capital lowered Applied Blockchain’s target price from $10.00 to $6.00 in a research note on Wednesday, October 12th. According to MarketBeat, six equity research analysts have rated the stock with a buy rating, with the company’s average rating of “buy” and a consensus price target of $7.50.
Hedge funds are complicit in blockchain adoption
Several large investors have increased or decreased their stakes in APLD recently. Penserra Capital Management LLC purchased new shares in Applied Blockchain worth approximately $76,000 in the third quarter. UBS Group AG bought new shares in Applied Blockchain worth about $36,000 in the third quarter. Virtu Financial LLC increased its position in applied blockchain by 89.4% in the third quarter. Virtu Financial LLC now owns 20,516 of his shares worth $35,000 after purchasing an additional 9,682 of his shares last quarter. Van ECK Associates Corp increased its position in applied blockchain by 3,298.8% in the third quarter. Van ECK Associates Corp now owns 698,253 shares worth $1,187,000 after purchasing an additional 677,709 shares during the previous quarter. Finally, Version Fund Management LLC purchased a new position worth approximately $621,000 in Applied Blockchain in the second quarter. 42.14% of the shares are currently owned by hedge funds and other institutional investors.
About Applied Blockchain
Applied Blockchain, Inc designs, develops and operates data centers in North America. The company’s data centers 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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