Insider Buying: Applied Blockchain, Inc. (OTCMKTS:APLD) CEO Buys 263,542 Shares of Stock

Applied Blockchain, Inc. (OTCMKTS:APLD – Get Rating) CEO Wes Cummins bought 263,542 shares of the stock in a transaction dated Tuesday, May 17th. The shares were acquired at an average price of $2.31 per share, with a total value of $608,782.02. Following the completion of the purchase, the chief executive officer now directly owns 263,542 shares of the company’s stock, valued at $608,782.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wes Cummins also recently made the following trade(s):

• On Thursday, May 19th, Wes Cummins bought 11,030 shares of Applied Blockchain stock. The shares were acquired at an average price of $2.95 per share, with a total value of $32,538.50.

Shares of APLD traded up $0.55 during mid-day trading on Thursday, reaching $3.09. 245,146 shares of the company’s stock traded hands, compared to its average volume of 96,554. The business’s 50-day moving average price is $8.79 and its 200-day moving average price is $15.51. Applied Blockchain, Inc. has a 12 month low of $1.73 and a 12 month high of $34.20.

Several analysts have recently weighed in on APLD shares. Northland Securities started coverage on Applied Blockchain in a research note on Monday, May 9th. They set an “outperform” rating and a $7.50 target price 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 target for the company. Needham & Company LLC started coverage on Applied Blockchain in a research note on Monday, May 9th. They issued a “buy” rating and a $5.50 price target for the company. Finally, Lake Street Capital initiated coverage on Applied Blockchain in a research note on Monday, May 9th. They issued a “buy” rating and a $10.00 price target for the company.

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.

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