Biomerica (NASDAQ:BMRA) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Biomerica, Inc. (NASDAQ:BMRA)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.15 and traded as low as $1.5833. Biomerica shares last traded at $1.60, with a volume of 2,401 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citizens Jmp initiated coverage on shares of Biomerica in a report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price objective on the stock. Weiss Ratings lowered Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $9.00.

Biomerica Trading Up 1.9%

The company’s 50 day moving average price is $1.96 and its 200 day moving average price is $2.15. The company has a market cap of $4.94 million, a price-to-earnings ratio of -1.80 and a beta of 0.33.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC boosted its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 22.28% of the stock is owned by institutional investors and hedge funds.

Biomerica Company Profile

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.