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

Analysts at StockNews.com began coverage on shares of Applied DNA Sciences (NASDAQ:APDN) in a research report issued on Sunday. The brokerage set a “hold” rating on the technology company’s stock.

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

Applied DNA Sciences Trading Down 3.8 %

NASDAQ APDN opened at $0.33 on Friday. The stock’s 50 day moving average is $0.49 and its two-hundred day moving average is $0.67. The company has a market capitalization of $5.60 million, a price-to-earnings ratio of -0.61 and a beta of 0.07. Applied DNA Sciences has a 1-year low of $0.31 and a 1-year high of $1.86.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.22. The company had revenue of $0.89 million for the quarter, compared to the consensus estimate of $0.70 million. Applied DNA Sciences had a negative return on equity of 159.93% and a negative net margin of 80.14%. On average, analysts predict that Applied DNA Sciences will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Applied DNA Sciences stock. Silverberg Bernstein Capital Management LLC bought a new position in Applied DNA Sciences, Inc. (NASDAQ:APDN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 22.22% of the company’s stock.

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.