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

Biomerica, Inc. (NASDAQ:BMRA) saw a significant growth in short interest during 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 days-to-cover ratio is presently 0.2 days. Currently, 2.3% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated 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, According to data from MarketBeat.com, the company has an average rating of “Sell” and an average target price of $9.00.

Insider Buying and Selling

In related news, Vice Chairman Allen Barbieri bought 20,000 shares of Biomerica stock in a transaction that occurred on Wednesday, August 26th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $32,000.00. Following the completion of the acquisition, the insider directly owned 73,542 shares of the company’s stock, valued at approximately $117,667.20. The trade was a 37.35% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Zackary S. Irani purchased 31,250 shares of the stock in a transaction 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 acquisition, the chief executive officer owned 242,570 shares in the company, valued at approximately $388,112. The trade was a 14.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 92,500 shares of company stock valued at $148,000 over the last ninety days. 18.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biomerica

A hedge fund recently bought a new stake in Biomerica stock. BlackRock Inc. bought a new position in Biomerica, Inc. (NASDAQ:BMRA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 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. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Biomerica Stock Up 0.4%

NASDAQ:BMRA traded up $0.01 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 52 week low of $1.45 and a 52 week high of $3.21. The business’s fifty day moving average is $1.76 and its 200 day moving average is $1.99. The company has a market cap of $6.92 million, a PE ratio of -1.76 and a beta of 0.37.

Biomerica (NASDAQ:BMRA) last issued its earnings results on Monday, August 31st. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.82. The company had revenue of $0.88 million for the quarter, compared to analyst estimates 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.