What just happened? Applied DNA Sciences, Inc. (NASDAQ:APDN) stock value has plummeted by nearly -6.01% or (-0.01 points) to $0.22 from its previous close of $0.23. 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 182017 contracts so far this session. APDN shares had a relatively better volume day versus average trading capacity of 510.74 thousand shares, but with a 28.72 million float and a 1.61% 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 1718.18% from where the APDN share price has been trading recently which is between $0.231 and $0.2599. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $3.
During the recent trading session for Applied DNA Sciences, Inc. (NASDAQ:APDN), the company witnessed their stock drop by $-0.02 over a week and tumble down $-0.14 from the price 20 days ago. When compared to their established 52-week high of $1.55, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/15/18. The recent low of $0.22 stood for a -85.87% since 11/10/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.17 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. At the moment, the median target price for APDN is set at $3, a figure which is above the recent 1-year high the stock witnessed.
Looking at the current readings for Applied DNA Sciences, Inc., the two-week RSI stands at 38.61. 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 19.14% 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 $0.25/share to $0.27/share level. However, if the stock price goes below the $0.22 mark, then the market for Applied DNA Sciences, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.21 for its downside target.
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 2.75, with the figure leaning towards a bullish end. 1 analysts who tracked the company were contacted by Reuters. Amongst them, 1 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/E ratio is 0 while for the average stock in the same group, the multiple is 83.6. Applied DNA Sciences, Inc. current P/B ratio of 0 means it is trading at a discount against its industry’s 3.1.
Applied DNA Sciences, Inc. (APDN)’s current-quarter revenues are projected to climb by nearly 327.6% to hit $5.11 million, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 126.2% from $3.9 million to a noteworthy $8.83 million. At the other end of the current quarter income statement, Applied DNA Sciences, Inc. is expected to see its adjusted earnings surge by roughly 100% to hit $0 per share. For the fiscal year, APDN’s earnings are projected to climb by roughly 52.5% to hit $-0.19 per share.