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

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

Applied DNA Sciences Stock Down 4.9 %

Shares of APDN opened at $1.74 on Monday. The company has a market cap of $1.92 million, a price-to-earnings ratio of -0.30 and a beta of 0.43. Applied DNA Sciences has a twelve month low of $1.71 and a twelve month high of $522.00. The company has a 50 day moving average of $0.27 and a two-hundred day moving average of $0.40.

Applied DNA Sciences (NASDAQ:APDN) last announced 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 net margin of 228.12% and a negative return on equity of 101.57%. On average, sell-side analysts expect that Applied DNA Sciences will post -0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Connective Capital Management LLC purchased a new position in shares of Applied DNA Sciences in the fourth quarter worth $36,000. Millennium Management LLC purchased a new position in shares of Applied DNA Sciences in the fourth quarter worth $28,000. Geode Capital Management LLC raised its holdings in shares of Applied DNA Sciences by 291.1% in the fourth quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after buying an additional 310,749 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Applied DNA Sciences in the third quarter worth $48,000. 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.