Chembio Diagnostics Inc (NASDAQ:CEMI) Shares Bought by Ingalls & Snyder LLC

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Ingalls & Snyder LLC raised its position in Chembio Diagnostics Inc (NASDAQ:CEMI) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 309,244 shares of the company’s stock after acquiring an additional 6,000 shares during the period. Ingalls & Snyder LLC owned approximately 1.76% of Chembio Diagnostics worth $1,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CEMI. Marshall Wace North America L.P. acquired a new stake in shares of Chembio Diagnostics in the 1st quarter worth $48,000. Wells Fargo & Company MN lifted its stake in shares of Chembio Diagnostics by 6.2% in the 2nd quarter. Wells Fargo & Company MN now owns 329,377 shares of the company’s stock worth $2,006,000 after acquiring an additional 19,152 shares during the period. LPL Financial LLC acquired a new stake in shares of Chembio Diagnostics in the 2nd quarter worth $215,000. HighTower Advisors LLC acquired a new stake in shares of Chembio Diagnostics in the 2nd quarter worth $90,000. Finally, BlackRock Inc. lifted its stake in shares of Chembio Diagnostics by 288.7% in the 2nd quarter. BlackRock Inc. now owns 190,838 shares of the company’s stock worth $1,163,000 after acquiring an additional 141,742 shares during the period. Institutional investors own 42.04% of the company’s stock.

Shares of CEMI opened at $4.16 on Thursday. The company has a 50-day simple moving average of $4.53 and a 200-day simple moving average of $5.35. The company has a quick ratio of 4.50, a current ratio of 5.86 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $73.07 million, a PE ratio of -7.56 and a beta of 1.58. Chembio Diagnostics Inc has a 52-week low of $3.80 and a 52-week high of $7.90.

Chembio Diagnostics (NASDAQ:CEMI) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.05). The company had revenue of $9.72 million during the quarter. Chembio Diagnostics had a negative net margin of 36.80% and a negative return on equity of 42.54%. On average, research analysts anticipate that Chembio Diagnostics Inc will post -0.83 EPS for the current year.

Separately, ValuEngine upgraded shares of Chembio Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.

In related news, Director John Gary Potthoff purchased 10,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was acquired at an average price of $4.44 per share, for a total transaction of $44,400.00. Following the acquisition, the director now directly owns 37,772 shares of the company’s stock, valued at approximately $167,707.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.90% of the company’s stock.

Chembio Diagnostics Profile

Chembio Diagnostics, Inc, together with its subsidiaries, develops, manufactures, and commercializes point-of-care (POC) diagnostic tests that are used to detect or diagnose diseases. The company offers tests for HIV and Syphilis, and Zika virus. It also develops tests for malaria, dengue virus, chikungunya virus, ebola, lassa, marburg, leptospirosis, Rickettsia typhi, Burkholderia pseudomallei, and Orientia tsutsugamushi.

Further Reading: Asset Allocation, Balancing Your Investments

Institutional Ownership by Quarter for Chembio Diagnostics (NASDAQ:CEMI)

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