StockNews.com Initiates Coverage on Applied DNA Sciences (NASDAQ:APDN)

Equities researchers at StockNews.com started coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a report released on Monday. The firm set a “sell” rating on the technology company’s stock.

Applied DNA Sciences Trading Down 19.0 %

APDN stock traded down $0.43 during trading on Monday, hitting $1.83. The company had a trading volume of 1,582,483 shares, compared to its average volume of 102,186. The company has a fifty day moving average price of $0.24 and a two-hundred day moving average price of $0.40. Applied DNA Sciences has a fifty-two week low of $1.71 and a fifty-two week high of $522.00. The company has a market cap of $101.00 million, a P/E ratio of -0.32 and a beta of 0.43.

Applied DNA Sciences (NASDAQ:APDN) last posted its earnings results on Thursday, February 13th. The technology company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.24). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. On average, analysts expect that Applied DNA Sciences will post -0.87 earnings per share for the current year.

Hedge Funds Weigh In On Applied DNA Sciences

A number of institutional investors have recently modified their holdings of APDN. Jane Street Group LLC acquired a new position in Applied DNA Sciences during the 3rd quarter valued at about $48,000. Millennium Management LLC acquired a new position in Applied DNA Sciences in the fourth quarter valued at approximately $28,000. Connective Capital Management LLC bought a new position in Applied DNA Sciences in the fourth quarter valued at approximately $36,000. Finally, Geode Capital Management LLC grew its holdings in Applied DNA Sciences by 291.1% during the 4th quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after acquiring an additional 310,749 shares during the period. 22.22% of the stock is owned by institutional investors.

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.