Biomerica, Inc. (NASDAQ:BMRA) Sees Large Decline in Short Interest

Biomerica, Inc. (NASDAQ:BMRA) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 37,581 shares, a decline of 53.0% from the May 31st total of 79,979 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average daily volume of 19,845 shares, the short-interest ratio is currently 1.9 days.

Biomerica Price Performance

NASDAQ BMRA traded up $0.02 during trading on Wednesday, reaching $1.78. 2,279 shares of the company’s stock traded hands, compared to its average volume of 20,402. Biomerica has a 12-month low of $1.73 and a 12-month high of $4.60. The firm has a market cap of $5.51 million, a price-to-earnings ratio of -2.00 and a beta of 0.31. The company’s 50 day simple moving average is $2.14 and its two-hundred day simple moving average is $2.25.

Biomerica (NASDAQ:BMRA) last announced 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. The firm had revenue of $0.99 million during the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Biomerica stock. DRW Securities LLC boosted its holdings 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 institutional investor owned 16,925 shares of the company’s stock after buying an additional 6,533 shares during the period. DRW Securities LLC owned approximately 0.56% of Biomerica worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors 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.