Biomerica (NASDAQ:BMRA) Issues Earnings Results

Biomerica (NASDAQ:BMRA) posted its quarterly earnings data on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.50, FiscalAI reports. The business had revenue of $0.88 million during the quarter, compared to the consensus estimate of $2.22 million. Biomerica had a negative return on equity of 98.14% and a negative net margin of 96.49%.

Biomerica Price Performance

Shares of NASDAQ:BMRA traded down $0.05 during mid-day trading on Monday, reaching $2.09. 51,125 shares of the company traded hands, compared to its average volume of 37,673. Biomerica has a 52 week low of $1.45 and a 52 week high of $3.22. The firm has a market cap of $6.46 million, a PE ratio of -2.35 and a beta of 0.35. The company’s 50 day moving average price is $1.67 and its 200-day moving average price is $1.99.

Insider Activity

In other Biomerica news, Director M. Huff Gary purchased 31,250 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $1.60 per share, with a total value of $50,000.00. Following the completion of the acquisition, the director directly owned 51,250 shares in the company, valued at $82,000. The trade was a 156.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Zackary S. Irani acquired 31,250 shares of the stock in a transaction dated Wednesday, August 26th. The stock was acquired at an average price of $1.60 per share, for a total transaction 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 bought 92,500 shares of company stock worth $148,000 in the last three months. Company insiders own 18.00% of the company’s stock.

Institutional Trading of Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC boosted its holdings in Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BMRA shares. Citizens Jmp started coverage on shares of Biomerica in a research report on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 target price on the stock. Weiss Ratings cut shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Sell rating, Based on 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 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.