Applied Blockchain Inc. [APLD] fell -91.57% so far this year. What now?


Applied Blockchain Inc. [NASDAQ: APLD] price surged by 100.00 percent to reach at $1.06. The company report on July 18, 2022 that Applied Blockchain Secures 200-Megawatt Five-Year Hosting Contract with Marathon Digital Holdings.

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Applied Blockchain, Inc. (Nasdaq: APLD) (“Applied Blockchain” or the “Company”) has entered into a five-year hosting contract with Marathon Digital Holdings, Inc. (Nasdaq: MARA) (“Marathon”) for 200-Megawatts (“MW”) of Bitcoin mining capacity. The Company will provide comprehensive hosting services for Marathon’s Bitcoin miners at Applied Blockchain’s owned and operated co-hosting datacenters.

“Partnering with Marathon, one of the largest Bitcoin miners in the industry, represents a significant step forward in Applied Blockchain’s growth trajectory. The multi-year agreement validates our capabilities as a best-in-class co-hosting datacenter operator. We are continuing to grow our contracted hosting capacity, which provides predictable revenue over a multi-year time frame,” said Applied Blockchain Chairman and CEO Wes Cummins. “Additionally, demand for our hosting services remains robust despite the volatility in the cryptocurrency markets, giving us continued confidence in the growth potential of our business for fiscal 2023 and beyond.”.

A sum of 126186979 shares traded at recent session while its average daily volume was at 682.07K shares. Applied Blockchain Inc. shares reached a high of $2.15 and dropped to a low of $1.35 until finishing in the latest session at $2.12.

The one-year APLD stock forecast points to a potential upside of 74.05.

Guru’s Opinion on Applied Blockchain Inc. [APLD]:

DA Davidson have made an estimate for Applied Blockchain Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 24, 2022. While these analysts kept the previous recommendation, Craig Hallum raised their target price to Buy. The new note on the price target was released on May 23, 2022, representing the official price target for Applied Blockchain Inc. stock. Previously, the target price had yet another raise to $7.50, while Northland Capital analysts kept a Outperform rating on APLD stock.

The Average True Range (ATR) for Applied Blockchain Inc. is set at 0.27, with the Price to Sales ratio for APLD stock in the period of the last 12 months amounting to 113.39.

APLD Stock Performance Analysis:

Applied Blockchain Inc. [APLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 114.92. With this latest performance, APLD shares gained by 105.83% in over the last four-week period, additionally sinking by -91.28% over the last 6 months – not to mention a drop of -71.51% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for APLD stock in for the last two-week period is set at 59.66, with the RSI for the last a single of trading hit 75.87, and the three-weeks RSI is set at 49.26 for Applied Blockchain Inc. [APLD]. The present Moving Average for the last 50 days of trading for this stock 2.2500, while it was recorded at 1.2000 for the last single week of trading, and 13.3400 for the last 200 days.

Insight into Applied Blockchain Inc. Fundamentals:

Return on Equity for this stock declined to -10.78, with Return on Assets sitting at -7.55.

Applied Blockchain Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Applied Blockchain Inc. [APLD] Insider Position Details

There are presently around $2 million, or 0.50% of APLD stock, in the hands of institutional investors. The top three institutional holders of APLD stocks are: EQUITEC PROPRIETARY MARKETS, LLC with ownership of 1,590,766, which is approximately New of the company’s market cap and around 4.90% of the total institutional ownership; EMERALD MUTUAL FUND ADVISERS TRUST, holding 241,925 shares of the stock with an approximate value of $0.26 million in APLD stocks shares; and GLOBAL RETIREMENT PARTNERS, LLC, currently with $0.0 in APLD stock with ownership of nearly New of the company’s market capitalization.

Positions in Applied Blockchain Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 2 institutional holders increased their position in Applied Blockchain Inc. [NASDAQ:APLD] by around 1,590,966 shares. Additionally, 0 investors decreased positions by around 0 shares, while 1 investors held positions by with 241,925 shares. The mentioned changes placed institutional holdings at 1,832,891 shares, according to the latest SEC report filing. APLD stock had 2 new institutional investments in for a total of 1,590,966 shares, while 0 institutional investors sold positions of 0 shares during the same period.