Chembio Diagnostics (NASDAQ:CEMI) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Chembio Diagnostics (NASDAQ:CEMIGet Rating) in a research report sent to investors on Monday morning. The firm issued a hold rating on the stock.

Chembio Diagnostics Stock Up 5.6 %

CEMI opened at $0.29 on Monday. The company has a fifty day moving average of $0.33 and a two-hundred day moving average of $0.57. The stock has a market capitalization of $10.46 million, a price-to-earnings ratio of -0.24 and a beta of 1.72. Chembio Diagnostics has a fifty-two week low of $0.23 and a fifty-two week high of $2.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.00 and a current ratio of 1.22.

Hedge Funds Weigh In On Chembio Diagnostics

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its stake in shares of Chembio Diagnostics by 98.0% during the 3rd quarter. Signaturefd LLC now owns 69,300 shares of the company’s stock worth $25,000 after buying an additional 34,300 shares during the period. Renaissance Technologies LLC raised its position in Chembio Diagnostics by 383.4% during the third quarter. Renaissance Technologies LLC now owns 113,600 shares of the company’s stock worth $41,000 after acquiring an additional 90,100 shares during the period. Bank of New York Mellon Corp purchased a new position in Chembio Diagnostics during the first quarter valued at $102,000. Finally, Vanguard Group Inc. lifted its holdings in Chembio Diagnostics by 41.4% during the third quarter. Vanguard Group Inc. now owns 1,562,014 shares of the company’s stock valued at $564,000 after purchasing an additional 457,450 shares in the last quarter. Hedge funds and other institutional investors own 8.63% of the company’s stock.

About Chembio Diagnostics

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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 COVID-19, HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue, chikungunya, Chagas, ebola, leishmaniasis, lassa, marburg, leptospirosis, rickettsia, and Burkholderia diseases.

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