Applied DNA Sciences (NASDAQ:APDN) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note issued to investors on Thursday morning. The firm issued a hold rating on the technology company’s stock.

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

Applied DNA Sciences Trading Down 4.2 %

Shares of APDN stock opened at $0.41 on Thursday. The company’s fifty day moving average price is $0.56 and its 200-day moving average price is $0.78. The stock has a market cap of $6.96 million, a PE ratio of -0.76 and a beta of 0.11. Applied DNA Sciences has a 12 month low of $0.37 and a 12 month high of $1.86.

Applied DNA Sciences (NASDAQ:APDN) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.22. The firm had revenue of $0.89 million during the quarter, compared to analyst estimates of $0.70 million. Applied DNA Sciences had a negative return on equity of 159.93% and a negative net margin of 80.14%. On average, sell-side analysts forecast that Applied DNA Sciences will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Applied DNA Sciences

Hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new position in Applied DNA Sciences in the 2nd quarter worth about $34,000. Raymond James & Associates purchased a new position in Applied DNA Sciences in the 4th quarter worth about $40,000. Virtu Financial LLC purchased a new stake in shares of Applied DNA Sciences during the 1st quarter valued at about $49,000. State Street Corp increased its position 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 valued at $58,000 after purchasing an additional 9,416 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC purchased a new stake in shares of Applied DNA Sciences during the 4th quarter valued at about $61,000. 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.