Biomerica (NASDAQ:BMRA) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Biomerica, Inc. (NASDAQ:BMRA) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.29 and traded as low as $2.00. Biomerica shares last traded at $2.00, with a volume of 23,480 shares.

Analyst Ratings Changes

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

Biomerica Stock Performance

The firm has a market capitalization of $6.18 million, a PE ratio of -2.25 and a beta of 0.31. The company has a fifty day moving average price of $2.22 and a 200-day moving average price of $2.29.

Biomerica (NASDAQ:BMRA) last issued its quarterly earnings data on Monday, April 13th. The company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.76. The business had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $3.63 million. Biomerica had a negative return on equity of 98.14% and a negative net margin of 96.49%.

Hedge Funds Weigh In On Biomerica

An institutional investor recently raised its position in Biomerica stock. DRW Securities LLC increased its stake in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund 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.

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.