Biomerica, Inc. (NASDAQ:BMRA) Short Interest Update

Biomerica, Inc. (NASDAQ:BMRA) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totaling 37,581 shares, a decrease of 53.0% from the May 31st total of 79,979 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 19,845 shares, the days-to-cover ratio is currently 1.9 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BMRA shares. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Citizens Jmp started coverage on shares of Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price target for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $9.00.

Hedge Funds Weigh In On Biomerica

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

Biomerica Trading Down 0.6%

Shares of BMRA stock traded down $0.01 during trading hours on Tuesday, reaching $1.76. The company’s stock had a trading volume of 364 shares, compared to its average volume of 20,507. Biomerica has a one year low of $1.73 and a one year high of $4.60. The firm’s fifty day simple moving average is $2.15 and its 200 day simple moving average is $2.26. The stock has a market capitalization of $5.44 million, a P/E ratio of -1.93 and a beta of 0.31.

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

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.