Applied DNA Sciences, Inc. (NASDAQ:APDN) Short Interest Down 23.9% in July

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant drop in short interest in July. As of July 15th, there was short interest totalling 587,800 shares, a drop of 23.9% from the June 30th total of 772,700 shares. Based on an average daily volume of 1,040,000 shares, the days-to-cover ratio is currently 0.6 days.

Applied DNA Sciences Price Performance

Shares of Applied DNA Sciences stock traded up $0.01 during trading on Monday, reaching $0.42. 721,495 shares of the stock traded hands, compared to its average volume of 500,272. Applied DNA Sciences has a 52-week low of $0.33 and a 52-week high of $37.20. The business has a fifty day simple moving average of $0.65 and a two-hundred day simple moving average of $6.12. The company has a market capitalization of $413,560.00, a price-to-earnings ratio of -0.02 and a beta of 0.09.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Friday, May 10th. The technology company reported ($5.31) earnings per share for the quarter, missing the consensus estimate of ($4.60) by ($0.71). Applied DNA Sciences had a negative net margin of 222.33% and a negative return on equity of 306.32%. The firm had revenue of $0.93 million for the quarter, compared to analysts’ expectations of $0.90 million. On average, research analysts predict that Applied DNA Sciences will post -2.95 earnings per share for the current fiscal year.

Institutional Investors 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% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 540,385 shares of the technology company’s stock after buying an additional 170,385 shares during the period. AMH Equity Ltd owned about 63.57% of Applied DNA Sciences worth $222,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 22.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on APDN. HC Wainwright lowered their price target on Applied DNA Sciences from $7.00 to $1.50 and set a “buy” rating on the stock in a report on Monday, June 10th. StockNews.com initiated coverage on shares of Applied DNA Sciences in a report on Tuesday, July 23rd. They issued a “sell” rating on the stock.

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.