Chembio Diagnostics, Inc. (NASDAQ:CEMI) announced its quarterly earnings data on Wednesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.02, Bloomberg Earnings reports. Chembio Diagnostics had a negative return on equity of 54.92% and a negative net margin of 87.81%. The firm had revenue of $2.89 million during the quarter, compared to the consensus estimate of $4.96 million.

Shares of Chembio Diagnostics (NASDAQ CEMI) remained flat at $6.15 on Thursday. The company had a trading volume of 11,940 shares. The company’s market capitalization is $75.64 million. Chembio Diagnostics has a 52-week low of $5.05 and a 52-week high of $7.47. The stock has a 50-day moving average of $6.26 and a 200 day moving average of $6.06.

COPYRIGHT VIOLATION WARNING: “Chembio Diagnostics, Inc. (NASDAQ:CEMI) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS” was posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright laws. The original version of this piece of content can be read at https://www.watchlistnews.com/chembio-diagnostics-inc-nasdaqcemi-announces-quarterly-earnings-results-misses-estimates-by-0-02-eps/1470392.html.

Separately, ValuEngine raised Chembio Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd.

In other news, insider Norman H. Pessin bought 36,250 shares of the business’s stock in a transaction on Wednesday, June 28th. The shares were bought at an average price of $5.48 per share, with a total value of $198,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.56% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Royce & Associates LP purchased a new stake in shares of Chembio Diagnostics during the second quarter worth about $132,000. Wells Fargo & Company MN raised its stake in shares of Chembio Diagnostics by 55.4% in the second quarter. Wells Fargo & Company MN now owns 74,186 shares of the company’s stock worth $449,000 after buying an additional 26,436 shares during the last quarter. Finally, ARS Investment Partners LLC raised its stake in shares of Chembio Diagnostics by 29.4% in the second quarter. ARS Investment Partners LLC now owns 671,681 shares of the company’s stock worth $4,064,000 after buying an additional 152,686 shares during the last quarter. 30.18% of the stock is currently owned by institutional investors.

Chembio Diagnostics Company Profile

Chembio Diagnostics, Inc (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc, develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies.

Earnings History for Chembio Diagnostics (NASDAQ:CEMI)

Receive News & Ratings for Chembio Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chembio Diagnostics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.