Biomerica (NASDAQ:BMRA) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Biomerica, Inc. (NASDAQ:BMRA) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as low as $2.08. Biomerica shares last traded at $2.12, with a volume of 15,261 shares.

Wall Street Analyst Weigh In

Several research firms have commented on BMRA. Citizens Jmp began coverage on shares of Biomerica in a research note on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target on the stock. Weiss Ratings raised shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell” and an average price target of $9.00.

Biomerica Price Performance

The firm’s 50 day moving average is $2.23 and its 200 day moving average is $2.30. The company has a market capitalization of $6.55 million, a PE ratio of -2.38 and a beta of 0.31.

Biomerica (NASDAQ:BMRA) last issued its earnings results on Monday, April 13th. The company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($1.20) by $0.76. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $3.63 million.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Biomerica stock. DRW Securities LLC raised its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during 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 purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 at the end of the most recent reporting period. 22.28% of the stock is owned by hedge funds and other institutional investors.

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.