This Analyst Recently Issued Research Note On Applied Blockchain Inc. (APLD)

As of Friday close, Applied Blockchain Inc.’s (NASDAQ:APLD) stock was down -$0.15, moving down -6.88 percent to $2.03. The average number of shares traded per day over the past five days has been 2,138,840 shares. 3 times new highs have been achieved over the past 5 days, with a -$0.09 fall in that time frame. In the last twenty days, the average volume was 14,783,704, while in the previous 50 days, it was 6,395,558.

Since last month, APLD stock rose 84.55%. Shares of the company fell to $0.85 on 07/13/22, the lowest level in the past month. A 52-week high of $34.20 was reached on 03/29/22 after having rallying from a 52-week low of $0.85. Since the beginning of this year, APLD’s stock price has dropped by -91.93% or -$23.11, and marked a new high 2 times. However, the stock has declined by -94.06% since its 52-week high.

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Applied Blockchain Inc. (APLD) last reported insider trading activity 67 days ago on May 31. Cummins Wes, the CEO; Chairman of the company, purchased of 100,000 shares for $4.81 on May 31. It resulted in a $481,000 investment by the insider. HASTINGS CHUCK added 10,000 shares at an average price of $4.83 on May 31. The insider now owns 444,500 shares following the transaction. On May 27, EVP Operations INGEL REGINA bought 7,726 shares at $3.83 apiece. The transaction was valued at $29,591.

Financial Health

In the recent quarter, Applied Blockchain Inc.’s quick ratio stood at 0.80, while its current ratio was 0.80, showing that the company is not able to pay off its debt.

During the quarter, the company generated -$2.42 million in EBITDA. The liabilities of Applied Blockchain Inc. were 72.1 million at the end of its most recent quarter, and its total debt was $1.22 million. The value of shareholders’ equity is $99.2 million.

Technical Picture

This quick technical analysis looks at Applied Blockchain Inc.’s (APLD) price momentum. With a historical volatility rate of 106.65%, the RSI 9-day stood at 51.88% on 05 August.

With respect to its five-day moving average, the current Applied Blockchain Inc. price is down by -4.25% percent or -$0.09. At present, APLD shares trade +91.51% above its 20-day simple moving average and -82.65% percent below its 100-day simple moving average. However, the stock is currently trading approximately -44.54% below its SMA50 and -90.60% below its SMA200.

Stochastic coefficient K was 57.27% and Stochastic coefficient D was 64.48%, while ATR was 0.32. Given the Stochastic reading of 42.50% for the 14-day period, the RSI (14) reading has been calculated as 51.65%. As of today, the MACD Oscillator reading stands at 0.01.

Analyst Ratings

DA Davidson launched its rating on Applied Blockchain Inc. (NASDAQ: APLD) to a Buy in a note to investors on May 24, 2022. Applied Blockchain Inc. (APLD) has been rated Buy by analysts. According to 0 brokerage firms, APLD is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Applied Blockchain Inc. stock as buy, with 6 recommending it as overweight.

With a median target price of $8.75, the current consensus forecast for the stock is $5.00 – $10.00. Based on these forecasts, analysts predict Applied Blockchain Inc. (APLD) will achieve an average price target of $8.00.


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