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

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

Separately, HC Wainwright decreased their price objective on Applied DNA Sciences from $40.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 9th.

Applied DNA Sciences Stock Down 12.6 %

Shares of Applied DNA Sciences stock opened at $4.37 on Monday. The firm has a market capitalization of $3.71 million, a P/E ratio of -0.40 and a beta of 0.07. Applied DNA Sciences has a 52 week low of $4.07 and a 52 week high of $37.20. The firm’s 50 day moving average is $9.16 and its two-hundred day moving average is $12.87.

Applied DNA Sciences (NASDAQ:APDN) last announced its quarterly earnings results on Thursday, February 8th. The technology company reported ($1.80) EPS for the quarter, beating the consensus estimate of ($6.20) by $4.40. The company had revenue of $0.89 million for the quarter, compared to analyst estimates 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, research analysts expect that Applied DNA Sciences will post -12.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied DNA Sciences

A hedge fund recently raised its stake in Applied DNA Sciences stock. AMH Equity Ltd grew its position in Applied DNA Sciences, Inc. (NASDAQ:APDN) by 76.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,232 shares of the technology company’s stock after acquiring an additional 254,232 shares during the quarter. Applied DNA Sciences comprises approximately 0.9% of AMH Equity Ltd’s portfolio, making the stock its 18th biggest position. AMH Equity Ltd owned approximately 4.30% of Applied DNA Sciences worth $711,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.