Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Drops By 46.8%

Applied DNA Sciences, Inc. (NASDAQ:APDNGet Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 937,000 shares, a decline of 46.8% from the August 15th total of 1,760,000 shares. Based on an average trading volume of 7,330,000 shares, the days-to-cover ratio is currently 0.1 days.

Applied DNA Sciences Stock Performance

Shares of NASDAQ APDN opened at $2.58 on Thursday. The business’s 50 day moving average price is $2.53 and its 200-day moving average price is $1.92. The company has a market cap of $30.92 million, a price-to-earnings ratio of -1.62 and a beta of 0.07. Applied DNA Sciences has a fifty-two week low of $0.62 and a fifty-two week high of $7.35.

Applied DNA Sciences (NASDAQ:APDNGet Rating) last announced its earnings results on Thursday, August 11th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.19. Applied DNA Sciences had a negative return on equity of 158.37% and a negative net margin of 68.79%. Sell-side analysts predict that Applied DNA Sciences will post -1.43 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on APDN shares. StockNews.com raised Applied DNA Sciences from a “sell” rating to a “hold” rating in a research note on Thursday, September 8th. HC Wainwright raised their target price on Applied DNA Sciences to $8.00 in a research note on Monday, August 15th.

Hedge Funds Weigh In On Applied DNA Sciences

Institutional investors and hedge funds have recently modified their holdings of the business. Capital Wealth Alliance LLC purchased a new stake in shares of Applied DNA Sciences during the second quarter worth $188,000. Dimensional Fund Advisors LP boosted 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 worth $141,000 after buying an additional 22,843 shares during the period. Prudential Financial Inc. acquired a new stake in Applied DNA Sciences in the second quarter valued at about $34,000. Atria Wealth Solutions Inc. purchased a new position in Applied DNA Sciences in the first quarter valued at about $67,000. Finally, State Street Corp increased 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 in the last quarter. Hedge funds and other institutional investors own 10.34% of the company’s stock.

Applied DNA Sciences Company Profile

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Applied DNA Sciences, Inc develops and markets DNA-based technology solutions for use in the nucleic acid-based in vitro diagnostics and preclinical nucleic-acid based drug development and manufacturing markets; and for supply chain security, anti-counterfeiting, and anti-theft technology purposes. The company's supply chain security and product authentication solutions include SigNature molecular tags that provide forensic power and protection for various applications used to fortify brand protection efforts and strengthen supply chain security, as well as mark, track, and convict criminals; SigNify IF portable DNA readers and SigNify consumable reagent test kits that provide real-time authentication of molecular tags in the field; and CertainT, which indicates the use of tagging, testing, and tracking platforms and solutions enabling manufacturers, brands, and trade organizations to convey proof of their product claims.

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