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

StockNews.com initiated coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research note issued to investors on Monday morning. The firm issued a sell rating on the technology company’s stock.

Applied DNA Sciences Trading Up 14.9 %

Shares of APDN opened at $2.00 on Monday. The firm has a market cap of $2.21 million, a PE ratio of -0.35 and a beta of 0.43. Applied DNA Sciences has a 1-year low of $1.67 and a 1-year high of $522.00. The firm has a fifty day simple moving average of $7.67 and a two-hundred day simple moving average of $17.76.

Applied DNA Sciences (NASDAQ:APDN) last posted its quarterly earnings data on Thursday, February 13th. The technology company reported ($28.00) EPS for the quarter, missing the consensus estimate of ($16.00) by ($12.00). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. As a group, research analysts forecast that Applied DNA Sciences will post -0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied DNA Sciences

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in shares of Applied DNA Sciences by 291.1% in the 4th quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after purchasing an additional 310,749 shares in the last quarter. Connective Capital Management LLC purchased a new stake in shares of Applied DNA Sciences in the 4th quarter worth $36,000. Millennium Management LLC purchased a new stake in shares of Applied DNA Sciences in the 4th quarter worth $28,000. Finally, Jane Street Group LLC purchased a new stake in shares of Applied DNA Sciences in the 3rd quarter worth $48,000. 22.22% of the stock is currently owned by hedge funds and other 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.