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

Research analysts at StockNews.com initiated coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a report issued on Saturday. The firm set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright lowered their price objective on Applied DNA Sciences from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, February 9th.

Applied DNA Sciences Price Performance

APDN stock opened at $0.38 on Friday. Applied DNA Sciences has a 52 week low of $0.37 and a 52 week high of $1.86. The firm has a market capitalization of $6.43 million, a P/E ratio of -0.70 and a beta of 0.07. The company has a fifty day simple moving average of $0.52 and a two-hundred day simple moving average of $0.71.

Applied DNA Sciences (NASDAQ:APDN) last announced its earnings results on Thursday, February 8th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.22. The firm had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $0.70 million. Applied DNA Sciences had a negative net margin of 80.14% and a negative return on equity of 159.93%. As a group, analysts anticipate that Applied DNA Sciences will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Applied DNA Sciences

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Applied DNA Sciences by 53.6% during the 1st quarter. State Street Corp now owns 26,977 shares of the technology company’s stock worth $58,000 after purchasing an additional 9,416 shares during the period. Vanguard Group Inc. lifted its stake in Applied DNA Sciences by 3.4% in the third quarter. Vanguard Group Inc. now owns 523,691 shares of the technology company’s stock worth $634,000 after purchasing an additional 17,241 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of Applied DNA Sciences by 32.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 83,110 shares of the technology company’s stock valued at $138,000 after buying an additional 20,250 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Applied DNA Sciences by 53.0% during the first quarter. Dimensional Fund Advisors LP now owns 65,916 shares of the technology company’s stock valued at $141,000 after buying an additional 22,843 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Applied DNA Sciences in the first quarter worth approximately $49,000. Hedge funds and other institutional investors own 22.22% of the company’s stock.

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.