Biomerica (NASDAQ:BMRA) Shares Pass Above 50 Day Moving Average – Time to Sell?

Biomerica, Inc. (NASDAQ:BMRA) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.85 and traded as high as $2.60. Biomerica shares last traded at $2.60, with a volume of 23,070 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Biomerica in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell” and a consensus price target of $9.00.

Biomerica Stock Performance

The firm has a market cap of $8.06 million, a P/E ratio of -2.06 and a beta of 0.37. The firm’s fifty day moving average is $1.89 and its 200 day moving average is $2.01.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings results on Monday, August 31st. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($1.20) by $0.82. The firm had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%.

Insider Activity

In other news, Vice Chairman Allen Barbieri purchased 20,000 shares of Biomerica stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the purchase, the insider directly owned 73,542 shares of the company’s stock, valued at $117,667.20. This trade represents a 37.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M. Huff Gary acquired 31,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the acquisition, the director owned 51,250 shares in the company, valued at approximately $82,000. This represents a 156.25% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have bought 92,500 shares of company stock valued at $148,000. 18.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Biomerica

An institutional investor recently bought a new stake in Biomerica stock. BlackRock Inc. purchased a new stake in Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned approximately 0.60% of Biomerica as of its most recent filing with the Securities & Exchange Commission. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

About Biomerica

Biomerica, Inc is a medical technology company that develops, manufactures and commercializes diagnostic and therapeutic products, with a primary focus on gastrointestinal disorders and other medical conditions. The company is headquartered in Irvine, California, and serves healthcare providers and patients in the United States and selected international markets through direct sales and distribution relationships.

Biomerica’s principal product is inFoods IBS, a diagnostic-guided dietary management program for irritable bowel syndrome.