Short Interest in Applied DNA Sciences, Inc. (NASDAQ:APDN) Grows By 218.1%

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 741,500 shares, a growth of 218.1% from the March 15th total of 233,100 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is presently 0.7 days. Currently, 12.3% of the company’s shares are sold short.

Applied DNA Sciences Stock Performance

Applied DNA Sciences stock opened at $0.92 on Tuesday. Applied DNA Sciences has a 1 year low of $0.90 and a 1 year high of $389.90. The firm has a 50 day moving average price of $4.61 and a 200 day moving average price of $8.90. The company has a market cap of $1.01 million, a price-to-earnings ratio of -0.16 and a beta of 0.86.

Applied DNA Sciences (NASDAQ:APDN) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($28.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($16.00) by ($12.00). Applied DNA Sciences had a negative net margin of 228.12% and a negative return on equity of 101.57%. Sell-side analysts predict that Applied DNA Sciences will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Applied DNA Sciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Applied DNA Sciences in the 3rd quarter valued at about $48,000. Geode Capital Management LLC raised its holdings 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 buying an additional 310,749 shares during the period. Millennium Management LLC purchased a new position in Applied DNA Sciences in the fourth quarter valued at approximately $28,000. Finally, Connective Capital Management LLC acquired a new position in Applied DNA Sciences during the fourth quarter valued at approximately $36,000. 22.22% of the stock is currently owned by institutional investors and hedge funds.

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.