Biomerica (NASDAQ:BMRA) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Biomerica, Inc. (NASDAQ:BMRA) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.32 and traded as low as $2.21. Biomerica shares last traded at $2.35, with a volume of 9,246 shares changing hands.

Analyst Ratings Changes

A number of research firms have recently issued reports on BMRA. Weiss Ratings upgraded shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Citizens Jmp began coverage on shares of Biomerica in a research note on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective on the stock. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Biomerica presently has an average rating of “Sell” and a consensus target price of $9.00.

Biomerica Stock Up 2.0%

The company has a market cap of $7.69 million, a PE ratio of -2.80 and a beta of 0.28. The business’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.32.

Biomerica (NASDAQ:BMRA) last posted its quarterly earnings data on Monday, April 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.76. The company had revenue of $0.99 million for the quarter, compared to analyst estimates of $3.63 million. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%.

Institutional Trading of Biomerica

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC increased its stake in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the period. DRW Securities LLC owned about 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 22.28% of the stock is currently owned by institutional investors.

About Biomerica

Biomerica, Inc is a developer, manufacturer and marketer of in vitro diagnostic tests for clinical diagnostic, life science research and food safety applications. The company’s product portfolio includes enzyme-linked immunosorbent assays (ELISAs), lateral flow immunoassays, point-of-care devices and specialty reagents designed to aid in the detection and monitoring of gastrointestinal, metabolic and autoimmune conditions. Biomerica’s diagnostics are used by hospitals, clinical and reference laboratories, and research institutions seeking solutions for early disease detection and patient management.

Key offerings from Biomerica include serological tests for celiac disease and gluten intolerance, quantitative assays for colorectal cancer screening markers such as M2-PK, and a range of point-of-care kits for metabolic monitoring.