Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Decreases By 92.2%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 233,100 shares, a drop of 92.2% from the February 28th total of 3,000,000 shares. Based on an average trading volume of 670,200 shares, the short-interest ratio is currently 0.3 days. Currently, 22.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Applied DNA Sciences

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Applied DNA Sciences during the third quarter worth approximately $48,000. Millennium Management LLC bought a new stake in Applied DNA Sciences during the 4th quarter valued at $28,000. Connective Capital Management LLC acquired a new position in Applied DNA Sciences during the 4th quarter worth $36,000. Finally, Geode Capital Management LLC grew its stake in shares of Applied DNA Sciences by 291.1% in the fourth quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after purchasing an additional 310,749 shares in the last quarter. Institutional investors and hedge funds own 22.22% of the company’s stock.

Applied DNA Sciences Price Performance

Shares of NASDAQ APDN opened at $2.06 on Thursday. Applied DNA Sciences has a 1-year low of $1.67 and a 1-year high of $460.00. The firm has a market capitalization of $2.27 million, a PE ratio of -0.36 and a beta of 0.43. The business’s fifty day moving average price is $6.90 and its two-hundred day moving average price is $15.25.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings data on Thursday, February 13th. The technology company reported ($28.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($16.00) by ($12.00). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. Equities research analysts expect that Applied DNA Sciences will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Applied DNA Sciences in a report on Monday, March 17th. They set a “sell” rating for the company.

Applied DNA Sciences Company Profile

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.