Applied DNA Sciences (NASDAQ:APDN) Lifted to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Applied DNA Sciences (NASDAQ:APDN) from a buy rating to a strong-buy rating in a research report report published on Wednesday, ValuEngine reports.

A number of other equities analysts have also recently commented on APDN. HC Wainwright began coverage on Applied DNA Sciences in a report on Thursday, July 2nd. They set a buy rating and a $18.00 target price for the company. Maxim Group reissued a buy rating and set a $21.00 price target on shares of Applied DNA Sciences in a research report on Friday, May 15th.

Shares of APDN stock opened at $8.13 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.35 and a current ratio of 5.39. The firm’s 50 day moving average price is $8.55 and its 200-day moving average price is $5.86. Applied DNA Sciences has a one year low of $2.52 and a one year high of $22.80.

Applied DNA Sciences (NASDAQ:APDN) last announced its earnings results on Thursday, May 14th. The technology company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.02). Applied DNA Sciences had a negative net margin of 167.84% and a negative return on equity of 279.79%. The firm had revenue of $0.55 million during the quarter. On average, research analysts forecast that Applied DNA Sciences will post -2.4 earnings per share for the current year.

In other news, insider William W. Montgomery bought 110,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were purchased at an average cost of $5.25 per share, for a total transaction of $577,500.00. Following the completion of the purchase, the insider now owns 135,000 shares of the company’s stock, valued at $708,750. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider William W. Montgomery bought 75,000 shares of Applied DNA Sciences stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $5.25 per share, for a total transaction of $393,750.00. Following the acquisition, the insider now owns 140,000 shares of the company’s stock, valued at $735,000. The disclosure for this purchase can be found here. Insiders have bought 225,000 shares of company stock worth $1,181,250 in the last ninety days. Corporate insiders own 22.42% of the company’s stock.

A hedge fund recently bought a new stake in Applied DNA Sciences stock. Sabby Management LLC acquired a new position in shares of Applied DNA Sciences Inc (NASDAQ:APDN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,397 shares of the technology company’s stock, valued at approximately $106,000. Sabby Management LLC owned approximately 0.76% of Applied DNA Sciences at the end of the most recent quarter. Institutional investors and hedge funds own 8.09% of the company’s stock.

Applied DNA Sciences Company Profile

Applied DNA Sciences, Inc develops and markets plat based or other DNA technology solution in the United States, Europe, and Asia. The company's supply chain security and product authentication solutions include SigNature molecular tags that are ingredients used to fortify brand protection efforts and strengthen supply chain security, as well as mark, track, and convict criminals; SigNature T molecular tags, which are tagging and authentication systems for use in brand protection efforts and raw material source compliance programs; and fiberTyping, a test of native cotton fiber DNA.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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