Short Interest in Biomerica, Inc. (NASDAQ:BMRA) Decreases By 78.7%

Biomerica, Inc. (NASDAQ:BMRA) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 5,000 shares, a drop of 78.7% from the July 31st total of 23,500 shares. Based on an average trading volume of 38,600 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.1% of the shares of the stock are short sold.

Shares of NASDAQ BMRA remained flat at $$3.05 during mid-day trading on Friday. The company had a trading volume of 9,837 shares, compared to its average volume of 27,625. Biomerica has a 12 month low of $1.60 and a 12 month high of $3.78. The firm has a market capitalization of $28.91 million, a P/E ratio of -11.73 and a beta of 1.45. The firm’s fifty day simple moving average is $3.13 and its 200 day simple moving average is $2.67.

Biomerica (NASDAQ:BMRA) last released its quarterly earnings data on Friday, August 30th. The company reported ($0.08) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). Biomerica had a negative return on equity of 58.31% and a negative net margin of 46.01%. The company had revenue of $1.17 million for the quarter, compared to the consensus estimate of $1.36 million. As a group, research analysts anticipate that Biomerica will post -0.33 EPS for the current fiscal year.

Separately, B. Riley set a $6.00 price objective on Biomerica and gave the company a “buy” rating in a report on Tuesday.

An institutional investor recently bought a new position in Biomerica stock. Susquehanna International Group LLP acquired a new stake in shares of Biomerica, Inc. (NASDAQ:BMRA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 17,688 shares of the company’s stock, valued at approximately $46,000. Susquehanna International Group LLP owned approximately 0.18% of Biomerica as of its most recent SEC filing. Institutional investors and hedge funds own 1.24% of the company’s stock.

Biomerica Company Profile

Biomerica, Inc, together with its subsidiaries, develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions. The company's diagnostic test kits are used to analyze blood, urine, or fecal samples from patients in the diagnosis of various diseases and other medical complications; or to measure the level of specific hormones, antibodies, antigens, or other substances, which exist in the human body in extremely small concentrations.

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