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

Applied DNA Sciences, Inc. (NASDAQ:APDN) saw a large drop in short interest during 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. Approximately 22.6% of the shares of the stock are sold short. Based on an average daily volume of 670,200 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Applied DNA Sciences

Institutional investors have recently added to or reduced their stakes in the business. Connective Capital Management LLC bought a new position in Applied DNA Sciences during the 4th quarter worth $36,000. Millennium Management LLC bought a new position in Applied DNA Sciences during the 4th quarter worth approximately $28,000. Geode Capital Management LLC boosted its stake in shares of Applied DNA Sciences by 291.1% in the 4th 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. Finally, Jane Street Group LLC acquired a new stake in shares of Applied DNA Sciences during the third quarter worth $48,000. 22.22% of the stock is owned by institutional investors.

Applied DNA Sciences Trading Down 1.9 %

NASDAQ:APDN traded down $0.04 on Wednesday, hitting $2.06. The company had a trading volume of 3,001,415 shares, compared to its average volume of 265,296. Applied DNA Sciences has a 52 week low of $1.67 and a 52 week high of $460.00. The stock has a market capitalization of $2.27 million, a price-to-earnings ratio of -0.36 and a beta of 0.43. The firm has a 50 day moving average of $7.06 and a two-hundred day moving average of $15.34.

Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings data on Thursday, February 13th. The technology company reported ($28.00) earnings per share 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 analysts forecast that Applied DNA Sciences will post -0.87 EPS for the current 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.