Biomerica, Inc. (NASDAQ:BMRA) Stock Short Interest Falls 62.1%

Biomerica, Inc. (NASDAQ:BMRA) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 10,485 shares, a drop of 62.1% from the September 30th total of 27,659 shares. Based on an average trading volume of 14,229 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Biomerica currently has a consensus rating of “Sell” and an average price target of $9.00.

Insiders Place Their Bets

In other news, Vice Chairman Allen Barbieri bought 20,000 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was bought at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the acquisition, the insider owned 73,542 shares in the company, valued at approximately $117,667.20. This trade represents a 37.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Zackary S. Irani bought 31,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the purchase, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at $388,112. The trade was a 14.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 92,500 shares of company stock valued at $148,000 in the last ninety days. Company insiders own 12.30% of the company’s stock.

Institutional Trading of Biomerica

An institutional investor recently bought a new position in Biomerica stock. BlackRock Inc. purchased a new position in Biomerica, Inc. (NASDAQ:BMRA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 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 hedge funds and other institutional investors.

Biomerica Trading Down 0.3%

Shares of BMRA stock traded down $0.01 during midday trading on Friday, reaching $1.73. 5,902 shares of the stock were exchanged, compared to its average volume of 34,722. Biomerica has a 1 year low of $1.45 and a 1 year high of $2.94. The company’s 50 day moving average is $2.06 and its two-hundred day moving average is $2.06. The firm has a market cap of $5.36 million, a PE ratio of -1.06 and a beta of 0.38.

Biomerica (NASDAQ:BMRA) last released its earnings results on Wednesday, October 21st. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.83. The company had revenue of $1.26 million during the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative return on equity of 142.81% and a negative net margin of 115.50%.

About Biomerica

Biomerica, Inc is a medical diagnostics company that develops, manufactures and commercializes products designed to help diagnose and manage gastrointestinal and other health conditions. Its offerings are intended for use by physicians, laboratories and consumers, depending on the product.

The company’s principal product is inFoods IBS, a blood-based diagnostic and therapeutic system designed to identify foods that may contribute to symptoms associated with irritable bowel syndrome. The system is intended to support a personalized dietary program under the direction of a healthcare professional.