Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) – Analysts at B. Riley lowered their Q2 2023 earnings per share (EPS) estimates for shares of Applied Blockchain in a note issued to investors on Wednesday, October 12th. B. Riley analyst L. Pipes now expects that the company will post earnings of ($0.06) per share for the quarter, down from their prior estimate of ($0.05). The consensus estimate for Applied Blockchain’s current full-year earnings is ($0.09) per share. B. Riley also issued estimates for Applied Blockchain’s Q3 2023 earnings at ($0.03) EPS, Q4 2023 earnings at $0.02 EPS and FY2023 earnings at ($0.12) EPS.
Applied Blockchain (OTCMKTS:APLD – Get Rating) last released its quarterly earnings results on Thursday, August 25th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.22. The firm had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.00 million.
Separately, Lake Street Capital decreased their price objective on Applied Blockchain from $10.00 to $6.00 in a report on Wednesday, October 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.50.
Applied Blockchain Price Performance
Shares of OTCMKTS:APLD opened at $1.93 on Monday. Applied Blockchain has a 12-month low of $0.85 and a 12-month high of $34.20. The company has a current ratio of 0.87, a quick ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average of $1.97 and a 200 day moving average of $3.28.
Institutional Trading of Applied Blockchain
Several institutional investors have recently bought and sold shares of the business. Equitec Proprietary Markets LLC acquired a new position in Applied Blockchain during the second quarter worth $1,670,000. Advisory Services Network LLC acquired a new position in Applied Blockchain during the 2nd quarter worth $26,000. Granite Point Capital Management L.P. acquired a new position in Applied Blockchain during the 2nd quarter worth $1,545,000. Rock Creek Group LP acquired a new position in Applied Blockchain during the 2nd quarter worth $168,000. Finally, B. Riley Financial Inc. acquired a new position in Applied Blockchain during the 2nd quarter worth $64,000. 42.14% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Applied Blockchain
In related news, CEO Wes Cummins acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were bought at an average price of $2.08 per share, with a total value of $104,000.00. Following the completion of the transaction, the chief executive officer now directly owns 820,686 shares in the company, valued at $1,707,026.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 63,490 shares of company stock valued at $132,104 over the last quarter. 28.90% of the stock is owned by corporate insiders.
Applied Blockchain Company Profile
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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