Applied DNA Sciences, Inc. (NASDAQ:APDN) Short Interest Down 92.2% in March

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 233,100 shares, a decrease of 92.2% from the February 28th total of 3,000,000 shares. Currently, 22.6% of the company’s shares are sold short. Based on an average daily volume of 670,200 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Applied DNA Sciences in a report on Monday, March 17th. They set a “sell” rating on the stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APDN. Millennium Management LLC bought a new position in Applied DNA Sciences during the fourth quarter worth $28,000. Connective Capital Management LLC bought a new position in shares of Applied DNA Sciences during the 4th quarter worth about $36,000. Jane Street Group LLC bought a new stake in shares of Applied DNA Sciences during the third quarter valued at approximately $48,000. Finally, Geode Capital Management LLC raised its holdings in Applied DNA Sciences by 291.1% during 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. Institutional investors own 22.22% of the company’s stock.

Applied DNA Sciences Price Performance

APDN stock opened at $1.87 on Friday. The stock has a market cap of $2.06 million, a price-to-earnings ratio of -0.33 and a beta of 0.43. The company has a fifty day moving average price of $6.75 and a two-hundred day moving average price of $15.15. Applied DNA Sciences has a one year low of $1.67 and a one year high of $460.00.

Applied DNA Sciences (NASDAQ:APDN) last announced 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 net margin of 228.12% and a negative return on equity of 101.57%. Research analysts anticipate that Applied DNA Sciences will post -0.87 EPS 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.