Biomerica (NASDAQ:BMRA) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Biomerica, Inc. (NASDAQ:BMRA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.30 and traded as low as $2.08. Biomerica shares last traded at $2.12, with a volume of 15,261 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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 price objective for the company. Weiss Ratings upgraded shares of Biomerica from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $9.00.

Biomerica Stock Down 0.9%

The firm has a market capitalization of $6.55 million, a P/E ratio of -2.38 and a beta of 0.31. The firm’s 50-day simple moving average is $2.23 and its 200-day simple moving average is $2.30.

Biomerica (NASDAQ:BMRA) last announced its earnings results on Monday, April 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.20) by $0.76. Biomerica had a negative net margin of 96.49% and a negative return on equity of 98.14%. The business had revenue of $0.99 million during the quarter, compared to analyst estimates of $3.63 million.

Institutional Investors Weigh In On Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC grew its holdings in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,925 shares of the company’s stock after acquiring 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.

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.