Biomerica (NASDAQ:BMRA) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Biomerica, Inc. (NASDAQ:BMRA)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.27 and traded as low as $1.76. Biomerica shares last traded at $1.76, with a volume of 10,675 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BMRA shares. Weiss Ratings downgraded 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 issued a “mkt outperform” rating and a $9.00 price target on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and an average target price of $9.00.

Biomerica Stock Down 4.9%

The stock has a market capitalization of $5.44 million, a price-to-earnings ratio of -1.98 and a beta of 0.31. The company has a 50 day simple moving average of $2.18 and a 200-day simple moving average of $2.27.

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

Institutional Investors Weigh In On Biomerica

An institutional investor recently raised its stake in Biomerica stock. DRW Securities LLC grew its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.56% of Biomerica worth $43,000 as of its most recent filing with the Securities & Exchange Commission. 22.28% of the stock is owned by institutional investors and hedge funds.

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.