HC Wainwright & Co. maintained its Applied DNA Sciences [APDN] rating to the equivalent of Buy but changed the price target to $18.0, in a research note dated 2021-01-11. That figure represents around a 54.64% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with H.C. Wainwright’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in mid July. Meanwhile, H.C. Wainwright had launched its coverage on APDN with “Buy”, in a research note produced for clients July 02, 2020. In addition, there was no change from Maxim Group on November 14, 2016. The rater maintained APDN to “a Buy” but assigned new target price of $6.
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Is Applied DNA Sciences Inc. [NASDAQ:APDN] a Good Buy Right Now?
It should be noted that APDN technical indicators for short, intermediate as well as long term progress have placed an overall average of 16% as Sell. The average signal changed from 100% Sell in the last week and compares with 88% Sell in the past month. Data from Applied DNA Sciences Inc.’s Trend Spotter indicated that the signals were Bearish. The stock current average is 1.47 million shares in the past 20 days and the short term average signal indicates a 50% Sell. In the last 50 days, the average trading volume was 0.76 million shares while the medium term average advocated for 50% Sell. The average long-term signal stands at 50% Buy and the 100-day average volume stands at 0.48 million shares.
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APDN Price Performance
On Wall Street, Applied DNA Sciences Inc. [NASDAQ:APDN] finished Friday’s session up 104.93% at $11.64. The stock went up to $12.3499 at the same session while its lowest single day price was $5.56. In the last five days, it saw a rise of about 128.24%, Applied DNA Sciences Inc. shares gained by almost 128.24% since the beginning of the year. However, the share price has dropped to as low as -28.98% below its one year high. On 01/08/21, the company shares recorded $12.35, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $5.08. The company’s shares have inclined by 177.80% in the past year. The 50-day SMA achieved is $6.57 while the 200-day SMA is $7.70. Volume gained to 22.05 million from 0.16 million in the previous session.
APDN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 7.35 level, and in case of violation of this particular level, it will cause more drop to 3.06 level. On the upper level, 16.64 is still the key resistance. The stock may increase to the subsequent resistance at 14.14. The Relative Strength Index (RSI) pinned on the 14-day chart is 83.82, implying a overbought technical stance while the MACD stands at 1.78, meaning price will increase in the next trading period. Percent R indicator moved to 9.59%, implying bullish price movement. Stochastic %K at 59.56% suggest selling the stock.
What is the short interest in Applied DNA Sciences Inc.?
Short interest in the Applied DNA Sciences Inc. stock has plunged, decreasing by -0.22 million shares to total 0.66 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.44 million, data from Yahoo Finance shows. The increase of 33.19% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 12.07% of the overall float for the stock.
Applied DNA Sciences Inc.’s Biggest Shareholders: Who Owns Applied DNA Sciences Inc. [APDN]?
Filings by Dillon Hill Capital LLC showed that the firm now holds a total of 185,000 shares or roughly 3.60% of the outstanding APDN shares. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -2.46% stake valued at $610,594 while Creative Planning LLC added theirs at $438,800. During the last quarter, BlackRock Fund Advisors liquidated -2,047 of its shares in Applied DNA Sciences Inc. while Creative Planning LLC bought 48,045 shares. The Geode Capital Management LLC’s holdings currently number 27,502 shares at $320123.28. According to the firm’s last 13F report, Morgan Stanley Smith Barney LLC shares in the company at filing stood at 25,526 shares, roughly $191,956.
APDN Earnings Forecast For The Current Quarter
Applied DNA Sciences Inc. [APDN] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $1.36M and an earnings per share of -$0.54 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.85M at an EPS of -$0.44 for Mar 2021. The estimates represent upside of 0.90% and 0.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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APDN Earnings Estimates For The Current Year
For the financial year, Applied DNA Sciences Inc. [NASDAQ:APDN] is expected to bring in revenue of $8.11M. The returns are nearly $6.18 million higher than the company’s actual revenue recorded in the fiscal year 2020. In terms of EPS for the 2021, estimate put it at -1.68, higher than that of FY20 by $1.64. Estimates put this year’s earnings growth at 49.40%, 0.60% for the next. As for sales, forecasts are for an increase of 320.00% in the current fiscal year and a further 0.90% over the following year.
