Applied DNA Sciences (NASDAQ:APDN) Now Covered by StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note issued to investors on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

Separately, HC Wainwright lowered their target price on Applied DNA Sciences from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, February 9th.

Applied DNA Sciences Stock Up 2.8 %

Shares of NASDAQ:APDN opened at $3.70 on Tuesday. Applied DNA Sciences has a 12 month low of $3.27 and a 12 month high of $37.20. The firm has a market cap of $3.14 million, a P/E ratio of -0.34 and a beta of 0.26. The company’s 50-day moving average price is $7.74 and its two-hundred day moving average price is $12.02.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Thursday, February 8th. The technology company reported ($1.80) EPS for the quarter, beating the consensus estimate of ($6.20) by $4.40. Applied DNA Sciences had a negative net margin of 80.14% and a negative return on equity of 159.93%. The business had revenue of $0.89 million for the quarter, compared to analysts’ expectations of $0.70 million. As a group, equities analysts predict that Applied DNA Sciences will post -12.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Applied DNA Sciences

An institutional investor recently raised its position in Applied DNA Sciences stock. AMH Equity Ltd boosted its holdings in shares of Applied DNA Sciences, Inc. (NASDAQ:APDN) by 76.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 587,232 shares of the technology company’s stock after acquiring an additional 254,232 shares during the period. Applied DNA Sciences accounts for 0.9% of AMH Equity Ltd’s portfolio, making the stock its 18th largest position. AMH Equity Ltd owned 4.30% of Applied DNA Sciences worth $711,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 22.22% of the company’s stock.

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.