Applied Blockchain Inc. Common Stock Down 22.84% To $5.82 After Earnings

Applied Blockchain Inc. Common Stock (APLD) said before open Tuesday that it broke even in quarter two 2024.

In the same quarter a year ago, the company lost $0.04 per share on revenue of $12.3 million.

The stock is down 22.84% to $5.82 after the report.

Applied Blockchain Inc. Common Stock’s profit margins maintained as both earnings and revenue declined at the same pace.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Applied Blockchain Inc. Common Stock has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 78, putting Applied Blockchain Inc. Common Stock in the top 25% of stocks. The firm set a 52-week high on June 23, 2023 at $11.62 and set a 52-week low on March 13, 2023 at $1.74.

Applied Digital Corp designs, develops and operates next-generation datacenters across North America to provide digital infrastructure solutions to the rapidly growing high performance computing industry.