Zacks Investment Research Lowers Applied DNA Sciences (NASDAQ:APDN) to Hold

Applied DNA Sciences (NASDAQ:APDN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

According to Zacks, “Applied DNA Sciences, Inc. provides proprietary DNA-embedded biotechnology security solutions, using non-human DNA, that verify authenticity and protect corporate and government agencies from counterfeiting, fraud, piracy, product diversion, identity theft and unauthorized intrusion. They develop, market, and sub-license DNA security systems, supply-chain management systems and anti-counterfeit solutions. Applied DNA Sciences has an exclusive licensing and partnership agreement covering North America and Europe with Biowell Technology, Inc. of Taiwan. “

APDN has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective (down from $18.00) on shares of Applied DNA Sciences in a research report on Monday, January 11th. Roth Capital initiated coverage on shares of Applied DNA Sciences in a report on Friday, February 12th. They issued a “buy” rating and a $24.00 target price for the company.

Shares of NASDAQ:APDN traded down $0.87 during trading hours on Thursday, reaching $7.36. The stock had a trading volume of 20,001 shares, compared to its average volume of 1,494,628. Applied DNA Sciences has a 1 year low of $3.61 and a 1 year high of $16.39. The firm’s 50 day moving average is $8.66 and its 200-day moving average is $8.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.01 and a current ratio of 2.13. The stock has a market capitalization of $55.00 million, a price-to-earnings ratio of -2.13 and a beta of 1.40.

Applied DNA Sciences (NASDAQ:APDN) last announced its quarterly earnings data on Wednesday, February 10th. The technology company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.02). Applied DNA Sciences had a negative net margin of 672.79% and a negative return on equity of 179.48%. The firm had revenue of $1.62 million during the quarter, compared to analysts’ expectations of $1.40 million. Analysts forecast that Applied DNA Sciences will post -0.33 EPS for the current year.

A number of large investors have recently modified their holdings of APDN. Orion Portfolio Solutions LLC acquired a new stake in Applied DNA Sciences during the 4th quarter worth $65,000. Golden Green Inc. acquired a new stake in Applied DNA Sciences during the 4th quarter worth $70,000. Squarepoint Ops LLC acquired a new stake in Applied DNA Sciences during the 3rd quarter worth $78,000. Schonfeld Strategic Advisors LLC acquired a new stake in Applied DNA Sciences during the 3rd quarter worth $84,000. Finally, GSA Capital Partners LLP acquired a new stake in Applied DNA Sciences during the 4th quarter worth $186,000. Hedge funds and other institutional investors own 7.04% of the company’s stock.

Applied DNA Sciences Company Profile

Applied DNA Sciences, Inc develops and markets DNA-based technology solutions for use in the nucleic acid-based in vitro diagnostics and preclinical nucleic-acid based drug development and manufacturing markets; and for supply chain security, anti-counterfeiting, and anti-theft technology purposes applications in the United States, Europe, and Asia.

See Also: Accumulation/Distribution

Get a free copy of the Zacks research report on Applied DNA Sciences (APDN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Applied DNA Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied DNA Sciences and related companies with MarketBeat.com's FREE daily email newsletter.