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

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Biomerica in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $9.00.

Insider Activity

In other Biomerica news, Vice Chairman Allen Barbieri acquired 20,000 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were bought at an average cost of $1.60 per share, with a total value of $32,000.00. Following the completion of the acquisition, the insider owned 73,542 shares in the company, valued at approximately $117,667.20. This trade represents a 37.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Zackary S. Irani acquired 31,250 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $1.60 per share, with a total value 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 approximately $388,112. This represents a 14.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 92,500 shares of company stock worth $148,000 in the last ninety days. Company insiders own 18.00% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Biomerica stock. BlackRock Inc. bought a new position in shares of Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned about 0.60% of Biomerica as of its most recent SEC filing. 22.28% of the stock is owned by institutional investors and hedge funds.

Biomerica Price Performance

BMRA stock traded up $0.01 during trading on Friday, hitting $2.24. The stock had a trading volume of 11,937 shares, compared to its average volume of 193,701. Biomerica has a twelve month low of $1.45 and a twelve month high of $3.21. The company’s 50-day moving average price is $1.76 and its two-hundred day moving average price is $1.99. The stock has a market capitalization of $6.92 million, a P/E ratio of -1.76 and a beta of 0.37.

Biomerica (NASDAQ:BMRA) last announced its earnings results on Monday, August 31st. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.82. The business had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative return on equity of 97.19% and a negative net margin of 84.79%.

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.