Big changes are happening at Applied DNA Sciences, Inc. (NASDAQ:APDN), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -4.54% or (-0.02 points) to $0.59 from its previous close of $0.61. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 240233 contracts so far this session. APDN shares had a relatively better volume day versus average trading capacity of 514.29 thousand shares, but with a 28.23 million float and a -5.52% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for APDN stock indicates that the average analyst price target is $4 per share. This means the stock has a potential increase of 577.97% from where the APDN share price has been trading recently which is between $0.583 and $0.84.
The shorts are climbing into Applied DNA Sciences, Inc. (APDN) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in APDN shares. While short interest still represents only 7.02% of APDN’s float, the number of shares shorted have risen by 112345. The number of shares shorted advanced to 2093633 shares, up from 1981288 shares during the preceding fortnight. With average daily trading volumes at 250201 shares, days to cover increased to about 5.723884 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “TheraCann and CannAcubed Enter Collaboration Agreement to Validate Cannabis and Hemp Supply Chain in China” and dated May 15, 2019.
During the recent trading session for Applied DNA Sciences, Inc. (NASDAQ:APDN), the company witnessed their stock drop by $-0.05 over a week and surge $0.03 from the price 20 days ago. When compared to their established 52-week high of $1.84, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/25/18. The recent low of $0.3 stood for a -68.15% since 12/21/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.46 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Applied DNA Sciences, Inc., the two-week RSI stands at 44.46. This figure suggests that APDN stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current APDN readings is similarly very revealing as it has a stochastic reading of 18.95% at this stage. This figure means that APDN share price today is being overbought.
Technical chart claims that Applied DNA Sciences, Inc. (APDN) would settle between $0.77/share to $0.94/share level. However, if the stock price goes below the $0.52 mark, then the market for Applied DNA Sciences, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.42 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group lifted target price for shares of APDN but were stick to Buy recommendation for the stock in their opinion released on November 14. The price target has been raised from $8 to $6. Maxim Group analysts again handed out a Buy recommendation to Applied DNA Sciences, Inc. (NASDAQ:APDN) stock but they lifted target price for the shares in a flash note issued to investors on May 13. The target price has been raised from $13 to $9. Analysts at Maxim Group are sticking to their Buy stance. However, on October 08, they lifted price target for these shares to $13 from $9.
APDN equity has an average rating of 3, with the figure leaning towards a bullish end. 2 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Applied DNA Sciences, Inc. (NASDAQ:APDN) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, APDN stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 16.03 while for the average stock in the same group, the multiple is 2.31.