Biomerica, Inc. (NASDAQ:BMRA) Stock Short Interest Report for October

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 10,485 shares, a decrease of 62.1% from the September 30th total of 27,659 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 14,229 shares, the days-to-cover ratio is currently 0.7 days.

Insider Activity at Biomerica

In other news, Vice Chairman Allen Barbieri purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average price of $1.60 per share, for a total transaction of $32,000.00. Following the purchase, the insider directly owned 73,542 shares of the company’s stock, valued at $117,667.20. This represents a 37.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zackary Irani purchased 31,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average price of $1.60 per share, for a total transaction of $50,000.00. Following the purchase, the chief executive officer directly owned 242,570 shares in the company, valued at $388,112. The trade was a 14.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 92,500 shares of company stock valued at $148,000 in the last three months. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Biomerica

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

Biomerica Trading Down 1.1%

Shares of Biomerica stock traded down $0.02 on Friday, reaching $1.72. 10,215 shares of the stock were exchanged, compared to its average volume of 11,820. The firm has a market capitalization of $5.31 million, a PE ratio of -1.05 and a beta of 0.38. Biomerica has a 1-year low of $1.45 and a 1-year high of $2.94. The business has a fifty day moving average price of $2.06 and a two-hundred day moving average price of $2.05.

Biomerica (NASDAQ:BMRA) last announced its quarterly earnings data on Wednesday, October 21st. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.83. Biomerica had a negative return on equity of 142.81% and a negative net margin of 115.50%. The company had revenue of $1.26 million for the quarter, compared to analyst estimates of $3.63 million.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell” and a consensus price target of $9.00.

About Biomerica

Biomerica, Inc is a medical diagnostics company that develops, manufactures and commercializes products designed to help diagnose and manage gastrointestinal and other health conditions. Its offerings are intended for use by physicians, laboratories and consumers, depending on the product.

The company’s principal product is inFoods IBS, a blood-based diagnostic and therapeutic system designed to identify foods that may contribute to symptoms associated with irritable bowel syndrome. The system is intended to support a personalized dietary program under the direction of a healthcare professional.