Biomerica, Inc. (NASDAQ:BMRA) Short Interest Down 53.0% in June

Biomerica, Inc. (NASDAQ:BMRA) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 37,581 shares, a decline of 53.0% from the May 31st total of 79,979 shares. Based on an average daily volume of 19,845 shares, the short-interest ratio is presently 1.9 days. Approximately 1.5% of the company’s stock are sold short.

Institutional Investors Weigh In On Biomerica

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

Wall Street Analyst Weigh In

BMRA has been the topic of several recent research reports. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp assumed coverage on shares of Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $9.00.

Biomerica Stock Performance

Biomerica stock traded down $0.01 during mid-day trading on Tuesday, hitting $1.76. The company’s stock had a trading volume of 364 shares, compared to its average volume of 20,507. The company has a 50 day moving average of $2.15 and a 200-day moving average of $2.26. The stock has a market cap of $5.44 million, a PE ratio of -1.93 and a beta of 0.31. Biomerica has a one year low of $1.73 and a one year high of $4.60.

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

Biomerica Company Profile

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.