Short Interest in Biomerica, Inc. (NASDAQ:BMRA) Decreases By 53.0%

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

Biomerica Price Performance

BMRA stock opened at $1.80 on Thursday. The company’s 50 day simple moving average is $2.13 and its 200-day simple moving average is $2.25. Biomerica has a 12 month low of $1.73 and a 12 month high of $4.60. The firm has a market capitalization of $5.56 million, a PE ratio of -2.02 and a beta of 0.31.

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

Institutional Trading of Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC lifted its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Analysts Set New Price Targets

BMRA has been the topic of several research reports. Citizens Jmp assumed coverage on Biomerica in a report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings downgraded Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell” and a consensus price target of $9.00.

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.