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

StockNews.com started coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research report sent to investors on Monday. The firm issued a sell rating on the technology company’s stock.

Applied DNA Sciences Stock Down 19.0 %

Shares of APDN opened at $1.83 on Monday. The company has a market cap of $2.02 million, a price-to-earnings ratio of -0.32 and a beta of 0.43. Applied DNA Sciences has a twelve month low of $1.81 and a twelve month high of $522.00. The company has a 50 day moving average of $0.24 and a two-hundred day moving average of $0.40.

Applied DNA Sciences (NASDAQ:APDN) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.24). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. On average, sell-side analysts expect that Applied DNA Sciences will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Applied DNA Sciences

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in shares of Applied DNA Sciences during the third quarter worth $48,000. Millennium Management LLC purchased a new position in shares of Applied DNA Sciences during the fourth quarter worth $28,000. Connective Capital Management LLC purchased a new position in shares of Applied DNA Sciences during the fourth quarter worth $36,000. Finally, Geode Capital Management LLC raised its holdings in shares of Applied DNA Sciences by 291.1% during 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 during the last quarter. 22.22% of the stock is currently owned by institutional investors and hedge funds.

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.