Biomerica (NASDAQ:BMRA) Stock Passes Below 50-Day Moving Average – Time to Sell?

Shares of Biomerica, Inc. (NASDAQ:BMRA) 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 changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on BMRA shares. Weiss Ratings lowered shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, June 5th. Citizens Jmp started coverage on shares of Biomerica in a research report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 target price for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $9.00.

Biomerica Stock Performance

The business has a fifty day simple moving average of $2.10 and a 200 day simple moving average of $2.22. The stock has a market cap of $5.22 million, a price-to-earnings ratio of -1.90 and a beta of 0.33.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings results on Monday, April 13th. The company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($1.20) by $0.76. Biomerica had a negative return on equity of 98.14% and a negative net margin of 96.49%.The company had revenue of $0.99 million during 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 grew its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the period. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. Institutional investors own 22.28% of the company’s stock.

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.