Somewhat Favorable News Coverage Somewhat Unlikely to Impact Chembio Diagnostics (CEMI) Stock Price
Media coverage about Chembio Diagnostics (NASDAQ:CEMI) has been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of press coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Chembio Diagnostics earned a news sentiment score of 0.02 on Accern’s scale. Accern also gave news headlines about the company an impact score of 45.3293181065553 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Chembio Diagnostics (NASDAQ:CEMI) last posted its earnings results on Wednesday, August 9th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.02). The firm had revenue of $2.89 million during the quarter, compared to analyst estimates of $4.96 million. Chembio Diagnostics had a negative return on equity of 48.79% and a negative net margin of 51.99%.
Separately, ValuEngine raised shares of Chembio Diagnostics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 11th.
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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 cost of $5.48 per share, for a total transaction of $198,650.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.56% of the company’s stock.
About Chembio Diagnostics
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.
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