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

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 233,100 shares, a drop 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.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Applied DNA Sciences

A number of institutional investors and hedge funds have recently bought and sold shares of APDN. Jane Street Group LLC purchased a new position in shares of Applied DNA Sciences in the 3rd quarter worth about $48,000. Millennium Management LLC bought a new position in shares of Applied DNA Sciences during the 4th quarter valued at approximately $28,000. Connective Capital Management LLC purchased a new stake in shares of Applied DNA Sciences during the 4th quarter worth approximately $36,000. Finally, Geode Capital Management LLC lifted its stake in Applied DNA Sciences by 291.1% in the fourth quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock valued at $85,000 after purchasing an additional 310,749 shares during the last quarter. 22.22% of the stock is owned by hedge funds and other institutional investors.

Applied DNA Sciences Stock Performance

Shares of NASDAQ APDN traded down $0.04 during midday trading on Wednesday, hitting $2.06. 3,001,415 shares of the stock traded hands, compared to its average volume of 265,296. Applied DNA Sciences has a one year low of $1.67 and a one year high of $460.00. The business has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $15.34. The company has a market cap of $2.27 million, a PE ratio of -0.36 and a beta of 0.43.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($28.00) EPS for the quarter, missing analysts’ consensus estimates of ($16.00) by ($12.00). Applied DNA Sciences had a negative return on equity of 101.57% and a negative net margin of 228.12%. As a group, equities research analysts forecast 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.