Applied DNA Sciences (NASDAQ:APDN)‘s stock had its “hold” rating reissued by analysts at Maxim Group in a note issued to investors on Wednesday, AnalystRatings.com reports.
The analysts wrote, “2019, APDN announced that its cannabis partner, TheraCann International (private), secured an agreement with South African company, House of Hemp (private), for molecular tagging. in partnership with TheraCann, announced a partnership with Chinese hemp company CannAcubed (private). The company remains non-complaint with NASDAQ listing requirements. We remain concerned about APDN’s capital structure, and believe the company will need to raise capital going forward. 2019, APDN reported FY2Q19 (Mar) revenue below our expectations, but a narrower GAAP loss per share compared to our estimates. Based on our new projections, we are reducing our FY19 and FY20 (Sept) revenue estimates.””
Shares of NASDAQ APDN traded down $0.02 during trading on Wednesday, reaching $0.59. The stock had a trading volume of 12,120 shares, compared to its average volume of 552,602. Applied DNA Sciences has a fifty-two week low of $0.30 and a fifty-two week high of $1.84. The company has a quick ratio of 1.10, a current ratio of 1.24 and a debt-to-equity ratio of 2.82.
Applied DNA Sciences (NASDAQ:APDN) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. Applied DNA Sciences had a negative return on equity of 1,286.88% and a negative net margin of 317.32%. The business had revenue of $0.78 million during the quarter.
Large investors have recently added to or reduced their stakes in the stock. Laurel Wealth Advisors Inc. purchased a new position in Applied DNA Sciences in the first quarter valued at $71,000. Creative Planning boosted its holdings in Applied DNA Sciences by 194.6% in the first quarter. Creative Planning now owns 166,475 shares of the technology company’s stock valued at $119,000 after purchasing an additional 109,966 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Applied DNA Sciences by 1.7% in the third quarter. Vanguard Group Inc now owns 745,500 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 12,402 shares during the period. Hedge funds and other institutional investors own 5.94% of the company’s stock.
About Applied DNA Sciences
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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