Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Expands By 23.7%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,140,000 shares, a growth of 23.7% from the August 15th total of 1,730,000 shares. Based on an average daily volume of 9,760,000 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Applied DNA Sciences

A hedge fund recently raised its stake in Applied DNA Sciences stock. AMH Equity Ltd lifted its holdings in Applied DNA Sciences, Inc. (NASDAQ:APDN) by 46.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 540,385 shares of the technology company’s stock after acquiring an additional 170,385 shares during the period. AMH Equity Ltd owned approximately 63.57% of Applied DNA Sciences worth $222,000 as of its most recent filing with the Securities and Exchange Commission. 22.22% of the stock is owned by institutional investors.

Applied DNA Sciences Stock Down 2.2 %

Shares of NASDAQ APDN traded down $0.03 during trading on Monday, reaching $1.34. The company had a trading volume of 659,777 shares, compared to its average volume of 3,755,347. Applied DNA Sciences has a 12 month low of $0.31 and a 12 month high of $28.20. The stock has a market cap of $13.69 million, a P/E ratio of -0.08 and a beta of 0.37. The company’s fifty day moving average price is $0.96 and its 200-day moving average price is $3.40.

Applied DNA Sciences (NASDAQ:APDN) last released its earnings results on Thursday, August 8th. The technology company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $1.11. The business had revenue of $0.80 million during the quarter, compared to the consensus estimate of $0.95 million. Applied DNA Sciences had a negative net margin of 214.42% and a negative return on equity of 138.41%. During the same quarter in the prior year, the firm posted ($4.80) EPS. As a group, equities analysts predict that Applied DNA Sciences will post -1.8 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on APDN shares. StockNews.com started coverage on Applied DNA Sciences in a research note on Friday, August 16th. They issued a “sell” rating on the stock. HC Wainwright reduced their price objective 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.

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.