Chembio Diagnostics Inc. (CEMI) Issues Earnings Results, Misses Estimates By $0.02 EPS
Chembio Diagnostics Inc. (NASDAQ:CEMI) issued its quarterly earnings data on Thursday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.02. Chembio Diagnostics had a negative return on equity of 24.17% and a negative net margin of 45.99%. The business earned $3.75 million during the quarter, compared to the consensus estimate of $3.76 million.
Shares of Chembio Diagnostics (NASDAQ:CEMI) opened at 6.85 on Thursday. The stock’s market cap is $82.10 million. Chembio Diagnostics has a 12-month low of $4.03 and a 12-month high of $9.40. The stock has a 50 day moving average price of $7.09 and a 200-day moving average price of $7.52.
Separately, Benchmark Co. reissued a “buy” rating and set a $9.00 price objective (down from $10.00) on shares of Chembio Diagnostics in a research note on Sunday, August 14th.
Chembio Diagnostics Company Profile
Chembio Diagnostics, Inc (Chembio), and its subsidiary, Chembio Diagnostic Systems, Inc, develop, manufacture, market and license rapid point-of-care diagnostic tests (POCTs) that detect infectious diseases. The Company’s products available are rapid tests for the detection of human immunodeficiency virus (HIV) 1/2 antibodies, and a multiplex rapid test for the detection of HIV and Syphilis antibodies.
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