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

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 37,158 shares, a decrease of 35.8% from the August 31st total of 57,854 shares. Based on an average trading volume of 39,597 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.5% of the company’s stock are short sold.

Insider Transactions at Biomerica

In other news, CEO Zackary S. Irani acquired 31,250 shares of Biomerica stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $50,000.00. Following the transaction, the chief executive officer owned 242,570 shares of the company’s stock, valued at approximately $388,112. This trade represents a 14.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Allen Barbieri bought 20,000 shares of Biomerica stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, with a total value of $32,000.00. Following the completion of the acquisition, the insider owned 73,542 shares of the company’s stock, valued at $117,667.20. This represents a 37.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 92,500 shares of company stock worth $148,000 in the last quarter. 18.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biomerica

An institutional investor recently bought a new position in Biomerica stock. BlackRock Inc. acquired a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica at the end of the most recent reporting period. 22.28% of the stock is currently owned by institutional investors.

Biomerica Price Performance

Shares of NASDAQ BMRA opened at $2.19 on Friday. Biomerica has a one year low of $1.45 and a one year high of $3.21. The firm’s 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $2.03. The stock has a market capitalization of $6.78 million, a P/E ratio of -1.73 and a beta of 0.38.

Biomerica (NASDAQ:BMRA) last posted its quarterly earnings results on Monday, August 31st. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.82. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%. The business had revenue of $0.88 million during the quarter, compared to the consensus estimate of $3.63 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Biomerica in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell” and an average price target of $9.00.

Biomerica Company Profile

Biomerica, Inc is a medical technology company that develops, manufactures and commercializes diagnostic and therapeutic products, with a primary focus on gastrointestinal disorders and other medical conditions. The company is headquartered in Irvine, California, and serves healthcare providers and patients in the United States and selected international markets through direct sales and distribution relationships.

Biomerica’s principal product is inFoods IBS, a diagnostic-guided dietary management program for irritable bowel syndrome.