Applied DNA Sciences (NASDAQ:APDN) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a report issued on Sunday. The firm issued a hold rating on the technology company’s stock.

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

Applied DNA Sciences Trading Down 12.1 %

APDN stock opened at $0.29 on Friday. The business’s 50-day moving average price is $0.48 and its two-hundred day moving average price is $0.66. The firm has a market cap of $4.92 million, a PE ratio of -0.54 and a beta of 0.07. Applied DNA Sciences has a 1-year low of $0.28 and a 1-year high of $1.86.

Applied DNA Sciences shares are scheduled to reverse split on the morning of Thursday, April 25th. The 1-20 reverse split was announced on Thursday, April 25th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, April 25th.

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

Hedge Funds Weigh In On Applied DNA Sciences

A hedge fund recently raised its stake in Applied DNA Sciences stock. AMH Equity Ltd increased its holdings in shares of Applied DNA Sciences, Inc. (NASDAQ:APDN) by 76.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 587,232 shares of the technology company’s stock after purchasing an additional 254,232 shares during the period. Applied DNA Sciences accounts for approximately 0.9% of AMH Equity Ltd’s holdings, making the stock its 18th largest position. AMH Equity Ltd owned about 4.30% of Applied DNA Sciences worth $711,000 at the end of the most recent quarter. 22.22% of the stock is owned by institutional investors and hedge funds.

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.