Applied Blockchain, Inc. (OTCMKTS:APLD) Given Average Rating of “Buy” by Analysts

Applied Blockchain, Inc. (OTCMKTS:APLDGet Rating) has been given an average rating of “Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $8.17.

A number of equities research analysts recently issued reports on the stock. 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. Northland Securities started coverage on Applied Blockchain in a report on Monday, May 9th. They set an “outperform” rating and a $7.50 price target for the company. 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 objective on the stock. Craig Hallum started coverage on Applied Blockchain in a research note on Monday, May 23rd. They issued a “buy” rating and a $10.00 target price for the company. Finally, Lake Street Capital assumed coverage on shares of Applied Blockchain in a research report on Monday, May 9th. They set a “buy” rating and a $10.00 price target on the stock.

In related news, Director Virginia Moore acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were purchased at an average cost of $2.29 per share, for a total transaction of $114,500.00. Following the completion of the acquisition, the director now directly owns 267,617 shares in the company, valued at $612,842.93. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Wes Cummins bought 263,542 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average price of $2.31 per share, with a total value of $608,782.02. Following the purchase, the chief executive officer now owns 263,542 shares in the company, valued at approximately $608,782.02. The disclosure for this purchase can be found here. Insiders purchased a total of 544,955 shares of company stock valued at $1,685,964 over the last quarter. 27.46% of the stock is owned by insiders.

Applied Blockchain stock opened at $1.08 on Friday. Applied Blockchain has a 12 month low of $0.95 and a 12 month high of $34.20. The business has a 50 day moving average price of $3.89 and a two-hundred day moving average price of $12.44.

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.

Further Reading

Analyst Recommendations for Applied Blockchain (OTCMKTS:APLD)

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