Biomerica, Inc. (NASDAQ:BMRA) Short Interest Update

Biomerica, Inc. (NASDAQ:BMRA) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 22,058 shares, a decline of 32.4% from the June 30th total of 32,611 shares. Based on an average daily volume of 6,993 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.9% of the company’s stock are sold short.

Biomerica Price Performance

Shares of NASDAQ:BMRA opened at $1.56 on Friday. Biomerica has a 1-year low of $1.52 and a 1-year high of $4.60. The business has a fifty day moving average price of $1.88 and a 200-day moving average price of $2.11. The company has a market capitalization of $4.82 million, a PE ratio of -1.75 and a beta of 0.33.

Institutional Trading of Biomerica

A hedge fund recently raised its position in Biomerica stock. DRW Securities LLC raised its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after purchasing an additional 6,533 shares during the quarter. DRW Securities LLC owned 0.56% of Biomerica worth $43,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Wall Street Analyst Weigh In

BMRA has been the topic of several recent research reports. Citizens Jmp started coverage on Biomerica in a research note on Tuesday, May 5th. They issued a “mkt outperform” rating and a $9.00 price target 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 data from MarketBeat, the company presently has an average rating of “Sell” and an average target price of $9.00.

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.