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

StockNews.com assumed coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a report released on Sunday. The firm issued a hold rating on the technology company’s stock.

Separately, HC Wainwright reduced their price target on Applied DNA Sciences from $2.00 to $1.50 and set a buy rating on the stock in a research report on Friday, February 9th.

Applied DNA Sciences Stock Down 17.7 %

Shares of APDN stock opened at $0.24 on Friday. The firm has a market capitalization of $4.05 million, a P/E ratio of -0.44 and a beta of 0.07. Applied DNA Sciences has a twelve month low of $0.22 and a twelve month high of $1.86. The stock’s fifty day simple moving average is $0.47 and its 200 day simple moving average is $0.66.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.22. The business had revenue of $0.89 million for the quarter, compared to analyst estimates of $0.70 million. Applied DNA Sciences had a negative return on equity of 159.93% and a negative net margin of 80.14%. As a group, equities research analysts expect that Applied DNA Sciences will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Applied DNA Sciences

A hedge fund recently bought a new stake in Applied DNA Sciences stock. Silverberg Bernstein Capital Management LLC bought a new stake in Applied DNA Sciences, Inc. (NASDAQ:APDN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 98,301 shares of the technology company’s stock, valued at approximately $61,000. Silverberg Bernstein Capital Management LLC owned approximately 0.72% of Applied DNA Sciences as of its most recent SEC filing. 22.22% of the stock is currently owned by hedge funds and other institutional investors.

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.