Applied DNA Sciences, Inc. (NASDAQ:APDN) is rated as Buy by analysts at Maxim Group. The firm was pushed by the stock performance to change their PT view from $8 to $6 on November 14. Analysts at Maxim Group, maintained the company shares at Buy on May 13 but switched target price from $13 to $9. Brokerage firm Maxim Group, looks cautious as they stick to prior recommendation of Buy, in a call on October 08. However, they did change the target price from $9 to $13. The Benchmark Company, released new analyst coverage on May 26, calling the stock is Speculative Buy.
Applied DNA Sciences, Inc. (APDN) hit an intraday high Tuesday at $0.68. The shares finished at $0.58, after trading as low as $0.4802 earlier in the session. It rose 32.95% in recent trade and currently has a stock-market value of $23.66M. Trading activity significantly improved as the volume at ready counter increased to 3,733,977 shares versus 1,130,935 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 877,034 shares. The stock is now 93.33% above against its bear-market low of $0.3 on December 21, 2018. It has retreated -217.24% since it’s 52-week high of $1.84 reached in September. Now the market price is down -61.51% on the year and up 46.25% YTD.
APDN’s 50 day simple moving average (SMA 50) price is $0.62 and its 200-day simple moving average (SMA 200) price is $1.15. The company’s stock currently has a total float of 27M shares. Its weekly volatility is hovering around 30.47% and felt 17.67% volatility in price over a month. On the upside, the share price will test short term resistance at around $0.68. On a downside, the stock is likely to find some support, which begins at $0.48. The failure to get near-term support could push it to $0.38.
Separately, it has been reported that multiple insider activity took place at Applied DNA Sciences, Inc. (APDN). 10% Owner Montgomery William W acquired 140,000 shares for $5,230,900 in transaction occurred on 2019/01/24. After making this transaction, the 10% Owner owns a direct stake of 65,800 shares, worth $3,033,922, as per the last closing price. On 2019/01/22 Montgomery William W, 10% Owner at APDN, purchased 160,000 shares at an average price of $0.44 per share. The new stake is valued at $2,952,722.
10% Owner, Montgomery William W had invested in 400,000 shares for $4,930,900 through a trade on 2019/01/07. Following this activity, the insider holds 180,000 shares worth $2,859,922 as of recent close. Wall Street’s most bullish Applied DNA Sciences, Inc. (NASDAQ:APDN) analysts are predicting the share price to blow past $3 per share during the next 12 months. The current median share price forecast by them is $3, suggesting that the stock could increase 417.24% in that time frame. The average price target of $3 calls for a nearly 417.24% increase in the stock price.
Also, it is trading at rather expensive levels at just over 19.5x price/book and 6.07x price/sales. It’s also very liquid in the near term, with a current ratio of 1.7. The stock has a debt/capital of 2.63.
Shares of Applied DNA Sciences, Inc. (APDN) have dropped -13.7% since the company’s last earnings report. Over the past 6 fiscal quarters, Applied DNA Sciences, Inc. (NASDAQ:APDN) has topped consensus earnings estimates in 2 quarters (16%), missed earnings in 3 quarters (25%), whereas at 1 occasion EPS met analyst expectations. Revenue for the recent quarter stood at $880000, up 35% on last year and below the $1.24 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $1.33 million to $1.33 million, which should be compared with $0 generated last year. EPS is seen in a range of -$0.06 to -$0.05, against the -$0.11 reported a year ago.