Applied DNA Sciences (NASDAQ:APDN) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright decreased their price target on shares of Applied DNA Sciences from $7.00 to $1.50 and set a “buy” rating on the stock in a research note on Monday, June 10th.

Applied DNA Sciences Price Performance

NASDAQ:APDN opened at $0.41 on Friday. Applied DNA Sciences has a one year low of $0.37 and a one year high of $37.20. The company has a market cap of $400,232.00, a P/E ratio of -0.02 and a beta of 0.08. The firm’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $7.90.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings data on Friday, May 10th. The technology company reported ($5.31) EPS for the quarter, missing the consensus estimate of ($4.60) by ($0.71). Applied DNA Sciences had a negative net margin of 222.33% and a negative return on equity of 306.32%. The company had revenue of $0.93 million during the quarter, compared to analyst estimates of $0.90 million. As a group, equities research analysts expect that Applied DNA Sciences will post -2.95 earnings per share for the current year.

Hedge Funds Weigh In On Applied DNA Sciences

A hedge fund recently raised its stake in Applied DNA Sciences stock. AMH Equity Ltd lifted its holdings in Applied DNA Sciences, Inc. (NASDAQ:APDN) by 46.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 540,385 shares of the technology company’s stock after acquiring an additional 170,385 shares during the period. AMH Equity Ltd owned approximately 63.57% of Applied DNA Sciences worth $222,000 as of its most recent filing with the SEC. Institutional investors own 22.22% of the company’s stock.

About Applied DNA Sciences

Applied DNA Sciences, Inc, a biotechnology company, develops and commercializes technologies to produce and detect deoxyribonucleic acid (DNA) in the Americas, Europe, Asia, and internationally. It operates through three segments: Therapeutic DNA Production Services; MDx Testing Services; and DNA Tagging and Security Products and Services.