Biomerica, Inc. (NASDAQ:BMRA) Short Interest Update

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 57,854 shares, an increase of 215.6% from the August 15th total of 18,333 shares. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 319,263 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

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

Biomerica Stock Up 0.4%

Shares of BMRA traded up $0.01 during midday trading on Friday, reaching $2.24. The company had a trading volume of 11,937 shares, compared to its average volume of 193,701. Biomerica has a 1-year low of $1.45 and a 1-year high of $3.21. The stock has a market cap of $6.92 million, a PE ratio of -1.76 and a beta of 0.37. The firm has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $1.99.

Biomerica (NASDAQ:BMRA) last announced 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. Biomerica had a negative net margin of 84.79% and a negative return on equity of 97.19%. The firm had revenue of $0.88 million for the quarter, compared to analysts’ expectations of $3.63 million.

Insider Transactions at Biomerica

In other Biomerica news, Vice Chairman Allen Barbieri purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the transaction, the insider owned 73,542 shares of the company’s stock, valued at $117,667.20. The trade was a 37.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Zackary S. Irani purchased 31,250 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average price of $1.60 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the chief executive officer directly owned 242,570 shares of the company’s stock, valued at $388,112. The trade was a 14.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 92,500 shares of company stock valued at $148,000. Corporate insiders own 18.00% of the company’s stock.

Hedge Funds Weigh In On Biomerica

A hedge fund recently bought a new position in Biomerica stock. BlackRock Inc. purchased a new stake in Biomerica, Inc. (NASDAQ:BMRA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned 0.60% of Biomerica at the end of the most recent reporting period. Institutional investors and hedge funds own 22.28% of the company’s stock.

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.