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

StockNews.com started coverage on shares of Chembio Diagnostics (NASDAQ:CEMIGet Rating) in a research note published on Tuesday morning. The brokerage issued a hold rating on the stock.

Chembio Diagnostics Price Performance

Chembio Diagnostics stock opened at $0.31 on Tuesday. The stock has a market cap of $11.24 million, a P/E ratio of -0.26 and a beta of 1.72. The company has a fifty day simple moving average of $0.32 and a 200-day simple moving average of $0.57. Chembio Diagnostics has a 12-month low of $0.23 and a 12-month high of $1.94. The company has a current ratio of 1.22, a quick ratio of 1.00 and a debt-to-equity ratio of 0.01.

Institutional Investors Weigh In On Chembio Diagnostics

Institutional investors have recently modified their holdings of the company. Signaturefd LLC lifted its position 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 purchasing an additional 34,300 shares during the last quarter. Renaissance Technologies LLC lifted its position in Chembio Diagnostics by 383.4% in the third quarter. Renaissance Technologies LLC now owns 113,600 shares of the company’s stock valued at $41,000 after acquiring an additional 90,100 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Chembio Diagnostics in the first quarter valued at $102,000. Finally, Vanguard Group Inc. lifted its position in Chembio Diagnostics by 41.4% in the third quarter. Vanguard Group Inc. now owns 1,562,014 shares of the company’s stock valued at $564,000 after acquiring an additional 457,450 shares during the last quarter. 8.63% of the stock is owned by hedge funds and other institutional investors.

Chembio Diagnostics Company Profile

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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.

Further Reading

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