Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Drops By 23.9%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totalling 587,800 shares, a decline of 23.9% from the June 30th total of 772,700 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is presently 0.6 days.

Analyst Ratings Changes

APDN has been the topic of a number of recent research reports. HC Wainwright cut their price target on Applied DNA Sciences from $7.00 to $1.50 and set a “buy” rating on the stock in a research note on Monday, June 10th. StockNews.com assumed coverage on shares of Applied DNA Sciences in a report on Tuesday, July 23rd. They set a “sell” rating on the stock.

Institutional Trading of Applied DNA Sciences

An institutional investor recently raised its position in Applied DNA Sciences stock. AMH Equity Ltd lifted its position in shares of Applied DNA Sciences, Inc. (NASDAQ:APDN) by 46.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 540,385 shares of the technology company’s stock after buying an additional 170,385 shares during the quarter. AMH Equity Ltd owned about 63.57% of Applied DNA Sciences worth $222,000 at the end of the most recent reporting period. 22.22% of the stock is owned by hedge funds and other institutional investors.

Applied DNA Sciences Price Performance

NASDAQ APDN traded up $0.01 on Monday, reaching $0.42. The company had a trading volume of 721,495 shares, compared to its average volume of 500,272. The firm has a market cap of $413,560.00, a price-to-earnings ratio of -0.02 and a beta of 0.09. Applied DNA Sciences has a fifty-two week low of $0.33 and a fifty-two week high of $37.20. The business has a 50 day moving average of $0.65 and a two-hundred day moving average of $6.12.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings results on Friday, May 10th. The technology company reported ($5.31) earnings per share for the quarter, missing the consensus estimate of ($4.60) by ($0.71). Applied DNA Sciences had a negative net margin of 222.33% and a negative return on equity of 306.32%. The company had revenue of $0.93 million during the quarter, compared to analyst estimates of $0.90 million. As a group, research analysts predict that Applied DNA Sciences will post -2.95 earnings per share for the current fiscal year.

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.