Applied Blockchain’s (OTCMKTS:APLD – Get Rating) lock-up period is set to expire on Monday, October 10th. Applied Blockchain had issued 8,000,000 shares in its initial public offering on April 13th. The total size of the offering was $40,000,000 based on an initial share price of $5.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Applied Blockchain Price Performance
Shares of Applied Blockchain stock opened at $1.70 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.14. Applied Blockchain has a 1 year low of $0.85 and a 1 year high of $34.20. The firm’s 50-day moving average is $2.05 and its two-hundred day moving average is $4.20.
Applied Blockchain (OTCMKTS:APLD – Get Rating) last released its quarterly earnings results on Thursday, August 25th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.22. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.00 million. As a group, sell-side analysts anticipate that Applied Blockchain will post 0.03 EPS for the current fiscal year.
Insider Transactions at Applied Blockchain
In other Applied Blockchain news, CEO Wes Cummins purchased 50,000 shares of Applied Blockchain stock in a transaction dated Tuesday, August 30th. The shares were acquired at an average cost of $2.08 per share, with a total value of $104,000.00. Following the completion of the transaction, the chief executive officer now owns 820,686 shares in the company, valued at approximately $1,707,026.88. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have acquired 63,490 shares of company stock valued at $132,104. Corporate insiders own 27.46% of the company’s stock.
Hedge Funds Weigh In On Applied Blockchain
Several hedge funds have recently made changes to their positions in APLD. Advisory Services Network LLC acquired a new stake in Applied Blockchain during the 2nd quarter worth about $26,000. Renaissance Technologies LLC acquired a new stake in Applied Blockchain during the 2nd quarter worth about $30,000. KCL Capital L.P. purchased a new stake in shares of Applied Blockchain during the 2nd quarter worth about $42,000. Northern Trust Corp purchased a new stake in shares of Applied Blockchain during the 2nd quarter worth about $47,000. Finally, B. Riley Financial Inc. purchased a new stake in shares of Applied Blockchain during the 2nd quarter worth about $64,000. 42.14% of the stock is owned by institutional investors and hedge funds.
About Applied Blockchain
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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