Biomerica, Inc. (NASDAQ:BMRA) Sees Significant Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 61,056 shares, a decline of 17.0% from the March 31st total of 73,534 shares. Based on an average daily volume of 29,780 shares, the short-interest ratio is presently 2.1 days. Approximately 2.4% of the shares of the stock are short sold.

Biomerica Price Performance

BMRA stock traded up $0.01 during mid-day trading on Friday, hitting $2.19. 5,507 shares of the stock were exchanged, compared to its average volume of 20,795. The business has a fifty day moving average price of $2.11 and a 200 day moving average price of $2.38. Biomerica has a 12 month low of $1.87 and a 12 month high of $4.60. The stock has a market capitalization of $6.77 million, a price-to-earnings ratio of -2.46 and a beta of 0.20.

Biomerica (NASDAQ:BMRA) last issued its quarterly earnings results on Monday, April 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.76. Biomerica had a negative return on equity of 98.14% and a negative net margin of 96.49%.The firm had revenue of $0.99 million during the quarter, compared to analyst estimates of $3.63 million.

Institutional Investors Weigh In On Biomerica

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC increased its stake in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 as of its most recent SEC filing. 22.28% of the stock is currently owned by institutional investors.

About Biomerica

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.