Biomerica, Inc. (NASDAQ:BMRA) Short Interest Down 32.4% in July

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 22,058 shares, a drop of 32.4% from the June 30th total of 32,611 shares. Based on an average daily volume of 6,993 shares, the days-to-cover ratio is currently 3.2 days. Approximately 0.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC grew its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned about 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 Stock Performance

NASDAQ:BMRA opened at $1.49 on Friday. Biomerica has a 1 year low of $1.47 and a 1 year high of $4.60. The stock has a fifty day moving average price of $1.86 and a two-hundred day moving average price of $2.11. The stock has a market capitalization of $4.60 million, a price-to-earnings ratio of -1.67 and a beta of 0.33.

Analysts Set New Price Targets

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

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.