Applied DNA Sciences, Inc. (NASDAQ:APDN) Sees Large Drop in Short Interest

Applied DNA Sciences, Inc. (NASDAQ:APDN) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,000,000 shares, a drop of 46.5% from the February 13th total of 5,610,000 shares. Based on an average daily volume of 4,570,000 shares, the short-interest ratio is presently 0.7 days. Approximately 5.4% of the shares of the stock are short sold.

Applied DNA Sciences Stock Down 14.9 %

Applied DNA Sciences stock opened at $2.26 on Friday. Applied DNA Sciences has a 12-month low of $1.95 and a 12-month high of $522.00. The stock has a market capitalization of $124.73 million, a price-to-earnings ratio of -0.40 and a beta of 0.43. The stock has a 50-day simple moving average of $0.21 and a 200 day simple moving average of $0.43.

Applied DNA Sciences (NASDAQ:APDN) last posted its quarterly earnings results on Thursday, February 13th. The technology company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.24). Applied DNA Sciences had a negative net margin of 228.12% and a negative return on equity of 101.57%. As a group, sell-side analysts anticipate that Applied DNA Sciences will post -0.87 EPS for the current year.

Hedge Funds Weigh In On Applied DNA Sciences

A number of large investors have recently added to or reduced their stakes in the company. Connective Capital Management LLC acquired a new position in Applied DNA Sciences during the fourth quarter valued at approximately $36,000. Millennium Management LLC bought a new position in shares of Applied DNA Sciences in the fourth quarter valued at about $28,000. Geode Capital Management LLC lifted its position in Applied DNA Sciences by 291.1% during the fourth quarter. Geode Capital Management LLC now owns 417,485 shares of the technology company’s stock worth $85,000 after acquiring an additional 310,749 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Applied DNA Sciences in the 3rd quarter valued at $48,000. Institutional investors own 22.22% of the company’s stock.

About Applied DNA Sciences

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.