Biomerica, Inc. (NASDAQ:BMRA) Sees Significant Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 37,158 shares, a decline of 35.8% from the August 31st total of 57,854 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average trading volume of 39,597 shares, the days-to-cover ratio is presently 0.9 days.

Insider Activity

In other news, Vice Chairman Allen Barbieri acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 26th. The stock was purchased at an average price 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 of the company’s stock, valued at $117,667.20. This trade represents a 37.35% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Zackary S. Irani acquired 31,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased 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 owned 242,570 shares of the company’s stock, valued at $388,112. The trade was a 14.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 92,500 shares of company stock valued at $148,000. 18.00% of the stock is currently owned by insiders.

Institutional Trading of Biomerica

A hedge fund recently bought a new stake in Biomerica stock. BlackRock Inc. bought a new stake in Biomerica, Inc. (NASDAQ:BMRA) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,636 shares of the company’s stock, valued at approximately $33,000. BlackRock Inc. owned 0.60% of Biomerica as of its most recent SEC filing. Institutional investors and hedge funds own 22.28% of the company’s stock.

Biomerica Price Performance

NASDAQ BMRA opened at $2.26 on Thursday. The stock has a market capitalization of $6.98 million, a P/E ratio of -1.78 and a beta of 0.37. The firm’s 50-day moving average is $1.96 and its two-hundred day moving average is $2.02. Biomerica has a 12 month low of $1.45 and a 12 month high of $3.21.

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 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 net margin of 84.79% and a negative return on equity of 97.19%.

Analysts Set New Price Targets

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

About Biomerica

Biomerica, Inc is a medical technology company that develops, manufactures and commercializes diagnostic and therapeutic products, with a primary focus on gastrointestinal disorders and other medical conditions. The company is headquartered in Irvine, California, and serves healthcare providers and patients in the United States and selected international markets through direct sales and distribution relationships.

Biomerica’s principal product is inFoods IBS, a diagnostic-guided dietary management program for irritable bowel syndrome.