Applied DNA Sciences Inc (NASDAQ:APDN) Short Interest Up 62.2% in August

Applied DNA Sciences Inc (NASDAQ:APDN) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 108,500 shares, a growth of 62.2% from the August 15th total of 66,900 shares. Approximately 8.4% of the company’s stock are short sold. Based on an average daily volume of 175,400 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 175,400 shares, the days-to-cover ratio is currently 0.6 days. Approximately 8.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Applied DNA Sciences from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Institutional Investors Weigh In On Applied DNA Sciences

Large investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in shares of Applied DNA Sciences during the 4th quarter worth approximately $28,000. Connective Capital Management LLC purchased a new position in Applied DNA Sciences in the 4th quarter valued at approximately $36,000. Finally, Anson Funds Management LP purchased a new position in Applied DNA Sciences in the 1st quarter valued at approximately $349,000. Hedge funds and other institutional investors own 22.22% of the company’s stock.

Applied DNA Sciences Stock Performance

NASDAQ:APDN opened at $2.68 on Monday. The firm has a 50-day moving average price of $4.09 and a two-hundred day moving average price of $15.30. Applied DNA Sciences has a 52 week low of $2.13 and a 52 week high of $1,177.50. The firm has a market cap of $3.46 million, a price-to-earnings ratio of 0.00 and a beta of 0.09.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings results on Thursday, August 14th. The technology company reported ($34.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($37.50) by $3.50. Applied DNA Sciences had a negative net margin of 399.91% and a negative return on equity of 136.17%. The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $1.28 million. As a group, sell-side analysts forecast that Applied DNA Sciences will post -0.87 earnings per share for the current year.

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.