Biomerica (NASDAQ:BMRA) Stock Passes Below 50-Day Moving Average – Time to Sell?

Biomerica, Inc. (NASDAQ:BMRA) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.10 and traded as low as $1.69. Biomerica shares last traded at $1.69, with a volume of 7,687 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings downgraded shares of Biomerica from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, June 5th. Citizens Jmp started coverage on Biomerica in a report on Tuesday, May 5th. They set a “mkt outperform” rating and a $9.00 price target for the company. One analyst has rated the stock with a Sell rating, According to MarketBeat, Biomerica presently has an average rating of “Sell” and an average target price of $9.00.

Biomerica Stock Performance

The company has a market cap of $5.22 million, a price-to-earnings ratio of -1.90 and a beta of 0.33. The company has a 50-day simple moving average of $2.10 and a 200-day simple moving average of $2.22.

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

Hedge Funds Weigh In On Biomerica

An institutional investor recently raised its stake in Biomerica stock. DRW Securities LLC increased its position in shares of Biomerica, Inc. (NASDAQ:BMRA) by 62.9% in the 4th quarter, according to the company in its most recent disclosure 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 as of its most recent filing with the SEC. Institutional investors own 22.28% of the company’s stock.

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.