Applied DNA Sciences, Inc. (NASDAQ:APDN) Sees Large Increase in Short Interest

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 784,200 shares, an increase of 334.9% from the May 31st total of 180,300 shares. Currently, 89.1% of the company’s shares are sold short. Based on an average daily trading volume, of 671,200 shares, the days-to-cover ratio is presently 1.2 days.

Applied DNA Sciences Trading Down 0.6 %

Shares of NASDAQ APDN traded down $0.00 during trading on Thursday, reaching $0.41. The company had a trading volume of 364,019 shares, compared to its average volume of 360,248. The business’s 50-day moving average is $2.44 and its 200 day moving average is $8.11. Applied DNA Sciences has a 12-month low of $0.37 and a 12-month high of $37.20.

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

Institutional Trading of Applied DNA Sciences

An institutional investor recently raised its position in Applied DNA Sciences stock. AMH Equity Ltd grew its holdings in shares of Applied DNA Sciences, Inc. (NASDAQ:APDN) by 46.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 540,385 shares of the technology company’s stock after acquiring an additional 170,385 shares during the period. AMH Equity Ltd owned about 63.57% of Applied DNA Sciences worth $222,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 22.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com started coverage on shares of Applied DNA Sciences in a report on Friday, June 21st. They issued a “sell” rating on the stock. HC Wainwright dropped their price target on Applied DNA Sciences from $7.00 to $1.50 and set a “buy” rating on the stock in a research report on Monday, June 10th.

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.