Applied Blockchain, Inc.'s Quiet Period Will Expire on May 23rd (OTCMKTS:APLD) – Defense World

Posted by on May 16th, 2022
Applied Blockchain’s (OTCMKTS:APLDGet Rating) quiet period is set to end on Monday, May 23rd. Applied Blockchain had issued 8,000,000 shares in its IPO on April 13th. The total size of the offering was $40,000,000 based on an initial share price of $5.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several research analysts recently commented on the company. Northland Securities assumed coverage on Applied Blockchain in a research report on Monday, May 9th. They issued an “outperform” rating and a $7.50 price target for the company. Lake Street Capital assumed coverage on Applied Blockchain in a research report on Monday, May 9th. They issued a “buy” rating and a $10.00 price target for the company. B. Riley assumed coverage on Applied Blockchain in a research report on Monday, May 9th. They issued a “buy” rating and a $10.00 price target for the company. Finally, Needham & Company LLC assumed coverage on Applied Blockchain in a research report on Monday, May 9th. They issued a “buy” rating and a $5.50 price target for the company.
Shares of OTCMKTS APLD opened at $1.80 on Monday. Applied Blockchain has a 1 year low of $1.73 and a 1 year high of $34.20. The firm has a 50-day simple moving average of $9.53 and a two-hundred day simple moving average of $16.06.

Applied Blockchain Company Profile (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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