Applied DNA Sciences, Inc. (NASDAQ:APDN) Expected to Post Quarterly Sales of $2.31 Million

Brokerages expect Applied DNA Sciences, Inc. (NASDAQ:APDN) to announce sales of $2.31 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Applied DNA Sciences’ earnings, with the lowest sales estimate coming in at $1.87 million and the highest estimate coming in at $2.75 million. Applied DNA Sciences posted sales of $310,000.00 in the same quarter last year, which would indicate a positive year over year growth rate of 645.2%. The company is scheduled to report its next quarterly earnings report on Thursday, December 16th.

According to Zacks, analysts expect that Applied DNA Sciences will report full-year sales of $8.30 million for the current financial year, with estimates ranging from $7.86 million to $8.74 million. For the next fiscal year, analysts expect that the business will report sales of $19.64 million, with estimates ranging from $19.17 million to $20.10 million. Zacks’ sales averages are an average based on a survey of research firms that cover Applied DNA Sciences.

Applied DNA Sciences (NASDAQ:APDN) last released its quarterly earnings results on Wednesday, August 11th. The technology company reported ($0.46) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.20). The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $3.44 million. Applied DNA Sciences had a negative net margin of 220.18% and a negative return on equity of 116.69%.

Several research firms have recently issued reports on APDN. HC Wainwright cut their price objective on shares of Applied DNA Sciences from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, August 13th. Zacks Investment Research downgraded shares of Applied DNA Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, August 17th.

Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in Applied DNA Sciences in the 2nd quarter worth approximately $85,000. Dimensional Fund Advisors LP acquired a new position in Applied DNA Sciences in the 2nd quarter worth approximately $100,000. Orion Portfolio Solutions LLC increased its holdings in Applied DNA Sciences by 34.1% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 18,719 shares of the technology company’s stock worth $127,000 after buying an additional 4,756 shares during the period. Premier Asset Management LLC acquired a new position in Applied DNA Sciences in the 1st quarter worth approximately $144,000. Finally, Virtu Financial LLC acquired a new position in Applied DNA Sciences in the 1st quarter worth approximately $195,000. Institutional investors own 7.03% of the company’s stock.

Shares of APDN stock traded up $0.28 during mid-day trading on Wednesday, hitting $5.68. 6,421 shares of the stock traded hands, compared to its average volume of 973,505. Applied DNA Sciences has a 52-week low of $4.95 and a 52-week high of $13.64. The stock has a market cap of $42.52 million, a P/E ratio of -2.39 and a beta of 1.01. The stock’s fifty day moving average is $5.80 and its two-hundred day moving average is $6.38.

About Applied DNA Sciences

Applied DNA Sciences, Inc engages in the provision of security solutions. The firm offers molecular-based technology solutions and services that can help protect products, brands, supply chains, and intellectual property of companies, governments, and consumers from theft, counterfeiting, fraud, and diversion.

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