Applied DNA Sciences (NASDAQ:APDN) Stock Rating Lowered by Wall Street Zen

Applied DNA Sciences (NASDAQ:APDN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Applied DNA Sciences Price Performance

APDN opened at $0.54 on Thursday. The company has a market cap of $600,686.40, a price-to-earnings ratio of -0.10 and a beta of 0.41. The firm has a 50 day simple moving average of $1.12 and a 200 day simple moving average of $5.97. Applied DNA Sciences has a fifty-two week low of $0.50 and a fifty-two week high of $177.00.

Applied DNA Sciences (NASDAQ:APDN) last released its earnings results on Thursday, May 15th. The technology company reported ($15.35) EPS for the quarter, missing analysts’ consensus estimates of ($3.00) by ($12.35). The business had revenue of $0.98 million for the quarter, compared to analyst estimates of $1.19 million. Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. As a group, 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 added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in 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 buying an additional 310,749 shares during the last quarter. Anson Funds Management LP bought a new stake in shares of Applied DNA Sciences in the 1st quarter valued at about $349,000. Connective Capital Management LLC acquired a new stake in shares of Applied DNA Sciences in the 4th quarter valued at approximately $36,000. Finally, Millennium Management LLC bought a new position in Applied DNA Sciences during the 4th quarter worth approximately $28,000. 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.