StockNews.com initiated coverage on shares of Applied DNA Sciences (NASDAQ:APDN – Free Report) in a report published on Tuesday. The brokerage issued a hold rating on the technology company’s stock.
Separately, HC Wainwright decreased their price objective on shares of Applied DNA Sciences from $40.00 to $30.00 and set a buy rating for the company in a report on Friday, February 9th.
Read Our Latest Stock Report on Applied DNA Sciences
Applied DNA Sciences Price Performance
Applied DNA Sciences (NASDAQ:APDN – Get Free Report) last announced its earnings results on Thursday, February 8th. The technology company reported ($1.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 159.93% and a negative net margin of 80.14%. On average, equities analysts expect that Applied DNA Sciences will post -12.6 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in Applied DNA Sciences stock. AMH Equity Ltd boosted its holdings in Applied DNA Sciences, Inc. (NASDAQ:APDN – Free Report) by 76.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 587,232 shares of the technology company’s stock after acquiring an additional 254,232 shares during the period. Applied DNA Sciences comprises about 0.9% of AMH Equity Ltd’s investment portfolio, making the stock its 18th biggest holding. AMH Equity Ltd owned about 4.30% of Applied DNA Sciences worth $711,000 as of its most recent filing with the Securities & Exchange Commission. 22.22% of the stock is currently owned by hedge funds and other institutional investors.
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.
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