Biomerica (NASDAQ:BMRA) Shares Cross Below Fifty Day Moving Average – Here’s Why

Biomerica, Inc. (NASDAQ:BMRA)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.10 and traded as low as $1.69. Biomerica shares last traded at $1.69, with a volume of 7,687 shares.

Analyst Ratings Changes

BMRA has been the topic of several recent research reports. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, June 5th. Citizens Jmp initiated coverage on Biomerica in a research note on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price objective for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $9.00.

Biomerica Trading Down 0.6%

The company has a 50-day simple moving average of $2.08 and a 200 day simple moving average of $2.22. The firm has a market cap of $5.10 million, a PE ratio of -1.85 and a beta of 0.33.

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

Institutional Trading of Biomerica

An institutional investor recently raised its stake in Biomerica stock. DRW Securities LLC lifted its position in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,925 shares of the company’s stock after acquiring an additional 6,533 shares during the period. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 22.28% of the company’s stock.

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.