Chembio Diagnostics (NASDAQ:CEMI) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS
Chembio Diagnostics (NASDAQ:CEMI) announced its quarterly earnings results on Thursday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.05), Fidelity Earnings reports. Chembio Diagnostics had a negative return on equity of 39.62% and a negative net margin of 32.95%. The company had revenue of $9.72 million for the quarter.
NASDAQ:CEMI traded down $0.47 during trading on Friday, reaching $4.54. The company’s stock had a trading volume of 153,300 shares, compared to its average volume of 50,394. The firm has a market cap of $94.85 million, a price-to-earnings ratio of -8.25 and a beta of 1.68. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.98 and a current ratio of 3.38. Chembio Diagnostics has a 12 month low of $4.39 and a 12 month high of $7.90. The firm has a 50 day moving average of $5.77 and a 200-day moving average of $6.15.
Several equities research analysts recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price target on shares of Chembio Diagnostics in a report on Monday, July 22nd. ValuEngine downgraded Chembio Diagnostics from a “buy” rating to a “hold” rating in a report on Monday, November 4th.
Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.
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