Biomerica, Inc. (NASDAQ:BMRA) Sees Significant Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 76,700 shares, a decrease of 42.5% from the February 29th total of 133,500 shares. Based on an average trading volume of 102,500 shares, the days-to-cover ratio is currently 0.7 days.

Biomerica Trading Down 6.5 %

Shares of BMRA traded down $0.06 during midday trading on Thursday, hitting $0.83. The stock had a trading volume of 82,907 shares, compared to its average volume of 86,155. The stock’s 50 day moving average is $1.02 and its 200 day moving average is $0.99. Biomerica has a 1 year low of $0.70 and a 1 year high of $2.13.

Biomerica (NASDAQ:BMRA) last issued its earnings results on Tuesday, January 16th. The company reported ($0.09) earnings per share (EPS) for the quarter. Biomerica had a negative return on equity of 64.25% and a negative net margin of 110.58%. The business had revenue of $1.57 million for the quarter.

Hedge Funds Weigh In On Biomerica

A number of institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its stake in shares of Biomerica by 4.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 181,687 shares of the company’s stock worth $247,000 after purchasing an additional 7,414 shares during the period. Geode Capital Management LLC increased its stake in Biomerica by 16.4% during the fourth quarter. Geode Capital Management LLC now owns 90,817 shares of the company’s stock worth $304,000 after purchasing an additional 12,811 shares during the period. Jane Street Group LLC acquired a new position in shares of Biomerica during the first quarter worth about $57,000. Penn Capital Management Company LLC acquired a new position in Biomerica in the first quarter valued at approximately $50,000. Finally, Boothbay Fund Management LLC boosted its holdings in Biomerica by 14.4% in the second quarter. Boothbay Fund Management LLC now owns 294,379 shares of the company’s stock valued at $400,000 after purchasing an additional 36,955 shares in the last quarter. 22.28% of the stock is owned by hedge funds and other institutional investors.

About Biomerica

Biomerica, Inc, a biomedical technology company, develops, patents, manufactures, and markets diagnostic and therapeutic products for the detection and/or treatment of medical conditions and diseases worldwide. The company's diagnostic test kits are used to analyze blood, urine, nasal or fecal specimens from patients in the diagnosis of various diseases, food intolerances, and other medical complications; or to measure bacteria, hormones, antibodies, antigens, or other substances which may exist in the human body, stools, or blood in extremely small concentrations.