Last Updated: 07 Nov 2024
Executive Summary
Applied Blockchain Inc. (APLD) is a crypto mining and co-hosting company with a market capitalization of $1.37 billion. The company has been reporting negative earnings per share and has a trailing price-to-sales ratio of 7.22. Despite these challenges, analysts remain bullish on the stock, with a consensus target price of $10.71.
Company Overview
Applied Blockchain Inc. is headquartered in Dallas, Texas. The company engages in crypto mining and co-hosting operations. Applied Blockchain has a market capitalization of $1.37 billion and is listed on the NASDAQ exchange.
Fundamental Analysis
Applied Blockchain's financial performance has been mixed. The company reported revenue of $189.96 million for the trailing twelve months, an increase of 0.67% year-over-year. However, the company's gross profit was negative $0.96 million and its diluted EPS was -$1.23. This resulted in a trailing price-to-earnings ratio of negative.
Applied Blockchain's balance sheet is relatively strong. The company has $15.07 million in cash and equivalents and $1.54 billion in total assets. However, the company also has $1.43 billion in total liabilities.
Technical Analysis
Applied Blockchain's stock price has been trending upwards in recent months. The stock price is currently trading at $7.07, which is above its 50-day moving average of $6.74 and its 200-day moving average of $4.98. The stock's relative strength index (RSI) is currently at 60.00, which indicates that the stock is overbought.
Short Term Outlook
The short-term outlook for Applied Blockchain is mixed. The company's stock price has been trending upwards in recent months, but the stock is currently overbought. This suggests that the stock could be due for a pullback in the short term.
Long Term Outlook
The long-term outlook for Applied Blockchain is more positive. The company is a leader in the crypto mining industry and is well-positioned to benefit from the growing adoption of cryptocurrencies. The company's stock price is currently trading at a discount to its analyst target price of $10.71, which suggests that the stock has room to run in the long term.
Analyst Recommendations
Analysts are bullish on Applied Blockchain. The consensus target price for the stock is $10.71, which represents a potential upside of 51.7% from the current price. Seven analysts have a buy rating on the stock, while none have a sell rating.
