Applied DNA Sciences (NASDAQ:APDN) Rating Lowered to Sell at Zacks Investment Research

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

A number of other equities analysts also recently commented on the stock. Maxim Group reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Applied DNA Sciences in a report on Friday. Roth Capital started coverage on shares of Applied DNA Sciences in a report on Friday, February 12th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, HC Wainwright decreased their price objective on shares of Applied DNA Sciences from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 28th.

Shares of APDN stock traded down $0.11 during mid-day trading on Tuesday, reaching $6.24. 9,322 shares of the company were exchanged, compared to its average volume of 1,283,860. Applied DNA Sciences has a fifty-two week low of $4.95 and a fifty-two week high of $14.84. 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 company has a market capitalization of $46.63 million, a P/E ratio of -1.81 and a beta of 1.40. The business’s 50 day simple moving average is $6.71 and its 200 day simple moving average is $7.89.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Wednesday, May 12th. The technology company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). Applied DNA Sciences had a negative return on equity of 179.48% and a negative net margin of 672.79%. On average, analysts forecast that Applied DNA Sciences will post -0.33 EPS for the current year.

A number of hedge funds have recently bought and sold shares of APDN. Orion Portfolio Solutions LLC bought a new stake in Applied DNA Sciences in the fourth quarter valued at $65,000. Golden Green Inc. bought a new stake in Applied DNA Sciences in the fourth quarter valued at $70,000. Premier Asset Management LLC bought a new stake in Applied DNA Sciences in the first quarter valued at $144,000. GSA Capital Partners LLP bought a new stake in Applied DNA Sciences in the fourth quarter valued at $186,000. Finally, Creative Planning lifted its stake in Applied DNA Sciences by 39.1% in the fourth quarter. Creative Planning now owns 81,145 shares of the technology company’s stock valued at $414,000 after buying an additional 22,794 shares during the last quarter. Institutional investors own 7.04% of the company’s stock.

About Applied DNA Sciences

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.

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